Tuesday, July 13, 2010

Copano Energy (Nasdaq:CPNO) Downgraded by UBS AG (NYSE:UBS)

Copano Energy (Nasdaq:CPNO), which is in the business of providing natural gas companies with services like natural gas gathering, fractionation, treating and transportation, was downgraded by UBS today (NYSE:UBS) from "Buy" to "Neutral."

Earnings per share estimates for the second quarter were also lowered by UBS for Copano, dropping from $0.10 a share to $0.05 a share, based on commodity prices.

The price target on the other hand was upped slightly from $25.50 50 $26.

UBS feels the shares are fairly valued, after recently outperforming. Today at 1:11 PM EDT, shares were at $27.83.

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