The following ratings' changes were generated on September 30, 2008.
Hawaiian Electric Industries(HE Quote) has been upgraded from hold to buy. Hawaiian Electric Industries, through its subsidiaries, engages in electric utility, banking and other businesses primarily in the state of Hawaii. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
The revenue growth came in higher than the industry average of 7.1%. Since the same quarter one year prior, revenue rose by 28.8%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share. ...
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