Zacks.com submits:
We are initiating coverage on Nicor Inc. (GAS) with a Neutral recommendation and a target price of $45.
Nicor’s core regulated gas distribution business, Nicor Gas, boasts of a large, stable, residential, and commercial customer base of more than 2 million with sustainable growth, low costs and rates, a diverse supply portfolio that includes significant gas storage assets, solid operations, and favorable competitive standing. The company also owns Tropical Shipping, a transporter of containerized freight serving the Bahamas and the Caribbean region that provides a profitable diversification to Nicor’s base business.