RESEARCH ALERT-Deutsche Bank cuts Allete earnings view

Newswire

NEW YORK, Sept 23 (Reuters) - Deutsche Bank Securities said on Monday it cut its earnings outlook for Allete Inc. for this year and next, saying the company's wholesale power business could be a drag on earnings in 2003. It said it cut its 2002 earnings per share estimate to $1.90 from $2.05 and lowered its 2003 outlook to $2.05 from $2.20. On Friday, Allete, citing weak wholesale energy prices, lowered its earnings per share forecast to a range of $1.80 to $1.90 from a range of $2.00 to ...

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