By Paul Dobson
Dec. 3 (Bloomberg) -- Credit Suisse Group analysts cut forecasts for energy prices and said investors should prepare for a prolonged lull as economic growth slows, denting earnings for European utility stocks.
Crude oil prices may “level out” at $40 a barrel through 2010, below current costs, analysts Colin Pollock and Christopher Kuplent said today in a research note.
They lowered recommendations for utility stocks including Drax Group Plc, the owner of western Europe’s biggest coal-fired power plant, in Selby, England.
To contact the reporter on this story: Paul Dobson in London at pdobson2@bloomberg.net
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