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CEZ Downgraded at Erste Bank on Electricity Prices, Carbon Tax
2010-12-13 14:19:23.47 GMT
By Krystof Chamonikolas
Dec. 13 (Bloomberg) -- CEZ AS was downgraded to "hold"
from "accumulate" at Erste Group Bank AG, which cut its
outlook for electricity prices and said it expects a tax on
carbon emissions to hurt earnings at the largest Czech power
producer.
The Austrian lender reduced its share-price estimate for
CEZ to 820 koruna from 980 koruna in a report to clients today.
The stock was unchanged at 758 koruna as of 2:10 p.m. in Prague.
For Related News and Information:
Czech news: NI CZECH BN <GO>
Emerging Europe news: EEUTOP <GO>
--Editors: Linda Shen, Peter Branton
To contact the reporter on this story:
Krystof Chamonikolas in Prague at +420-224-422-107 or
kchamonikola@bloomberg.net
To contact the editor responsible for this story:
Gavin Serkin at +44-20-7673-2467 or gserkin@bloomberg.net
