Jefferies Maintains a 'Buy' on Empire District Electric (EDE); Blowing Out the Quarter

Jefferies maintains a 'Buy' on Empire District Electric (NYSE: EDE) price target raised $1 to $22.50.

Jefferies analyst says, "We believe investors can purchase Empire at a 10% discount to the group average of regulated utilities. The stock has always traded at a premium given its best yield in the space, but the recent dividend cut ($1.28 lowered to $1.00) still puts it 50 bps above the group average yield."

For more ratings news on Empire District Electric click here and for the rating history of Empire District Electric click here.

Shares of Empire District Electric closed at $20.41 yesterday, with a 52 week range of $18.01-$23.26.

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