UPDATE: Williams Initiates OGE Energy at Buy
Williams is out with its report today on OGE Energy (NYSE: OGE), initiating OGE at Buy.
In a note to clients, Williams writes, "We initiate coverage on OGE Energy Corp. with a Buy investment rating and $55.00 target price on June 21, 2011 at a price of $49.05. In our opinion, the stock currently reflects a 13%-15% valuation discount to a reasonable Sum-of-the-Parts valuation based on our 2013 fundamental estimates, providing additional capital appreciation headroom, in our opinion."
Shares of OGE closed Monday at $49.05.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.