RWE downgraded to "reduce"

23.02.06 - Dexia Securities

LONDON, February 23 (newratings.com) - Analysts at Dexia Securities downgrade RWE AG (RWE-EUR) to "reduce." The target price is set to ?65.8.

In a research note published this morning, the analysts mention that the downgrade in rating follows the significant rally in the company?s share price. RWE has announced disappointing guidance for 2006, the analysts say. The company has raised its dividend to ?1.75 per share, as compared to the expectation of at least ?1.80 per share, according to Dexia Securities.