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UPDATE: Jefferies Raises PT on OGE Energy Following 1Q13 EPS

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UPDATE: Wunderlich Securities Upgrades OGE Energy Corp. As Midstream Exposure Supports Valuation Upside
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In a report published Friday, Jefferies analyst Paul B. Fremont reiterated a Hold rating on OGE Energy Corp. (NYSE: OGE), and raised the price target from $72.00 to $74.00.

In the report, Fremont noted, “OGE reported 1Q13 EPS which was light of Consensus but investor focus is on the earnings power of the MLP. DOJ/FTC approval was issued earlier this week and both companies are working on selecting a management team. On the 2Q13 call OGE hopes to provide revised 2013 guidance related to the transaction. On the utility front management opened the door for more transmission projects and a possible Transco creation.”

OGE Energy Corp. closed on Thursday at $71.00.

Latest Ratings for OGE

DateFirmActionFromTo
Dec 2014WunderlichDowngradesBuyHold
Dec 2014JefferiesDowngradesBuyHold
Nov 2014JefferiesMaintainsBuy

View More Analyst Ratings for OGE
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Price Target Analyst Ratings

 

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