Why are we paying someone to do this? I think we should transfer Keith to credit full time and put his analysis capabilities to use. Rick
 -----Original Message-----
From: 	Power, Keith E.  
Sent:	Wednesday, April 25, 2001 8:55 AM
To:	Buy, Rick; Gorte, David; Schneider, Chip; Tribolet, Michael; Petersen, Randy; Larson, Bradford; Barbour, Karen L.; Crews, David; Schlemmer, Jack; Ledlow, James; Ruane, Mark
Cc:	Hudler, Cindy
Subject:	Research - Enron / Other

CS First Boston with a 12-month target price on ENE of $110 / share.  Increase in 2002 EPS estimate to $2.25 / share - 2001 estimate maintained at $1.80 / share.


 

B of A attachment discusses the 19 - 1 vote yesterday in the Senate Finance Committee in favor of repealing PUHCA.  Also brief reference to the IPO yestereday of Aquilla Energy ("ILA") a unit of gas and electricity company, UtiliCorp United Inc. ("UCU").  The stock priced at the high end of its range - $24 / share ($21 - $23 was mentioned in the prospectus) and traded as high as $29.00 intraday, before closing at $27.85.  With roughly 100 MM shares outstanding (17.5 MM in the float) the market cap is ballpark $2.8 billion.  The offering was led by Merrill and Lehman and was oversubscribed around 10x.