January 18, 2018 / 1:10 PM / a year ago

BUZZ-Husky Energy: Raymond James' 'outperform' lasts barely a month

** Raymond James cuts Canadian oil and gas producer to “market perform” after regulators order co to suspend ops at SeaRose vessel

** Brokerage gave its highest rating in mid-December

** HSE says to suspend ops of its 27,000 bpd floating production, storage and offloading vessel after an iceberg came too close to facility last year

** Prolonged suspension could cut HSE 2018 free cash flow estimate in half -Raymond James

** Brokerage Eight Capital also drops HSE to “sell” from “neutral”, says suspension will cause a “credibility overhang” for co

** “We believe there is limited visibility with respect to how long it might take for the company to re-establish the regulator’s confidence in the company’s safety performance/“ - Raymond James

** As of Wednesday, 14 of 20 brokerages covering HSE had “hold” rating, 1 “sell” and remaining “buy” or “higher”

** Co’s shares have risen ~19 pct over 12 months vs. Toronto Stock Exchange’s 6 pct gain (Reporting by Yashaswini Swamynathan in Bengaluru)

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