Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Deutsche Bank Lowers Questar to 'Hold'

Deutsche Bank downgraded Questar (STR) to hold from buy.

Analyst John Edwards says the downgrade is essentially based on valuation and future natural gas prices. He says Questar's shares provided a total return of 25% since February 2003, vs. the S&P 500's gain of 23.5%. Given the company's 73% correlation between return on invested capital, gas prices, and the increased likelihood of weaker gas prices going forward (hence the increased liklihood of tougher earnings comparisions in 2005), he believes more a conservative stance on Questar's valuation is appropriate.

Edwards maintains the $2.14 2003 earnings per share estimate, and the $2.39 estimate for 2004. He lowered the $36 target to $33.

blog comments powered by Disqus