Wells Fargo Upgrades Cleco (CNL) to Outperform

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Wells Fargo upgraded Cleco (NYSE: CNL) from Market Perform to Outperform with a valuation range of $47-48/sh from $44-45/sh.

"We do not believe the current valuation adequately reflects CNL's strong EPS and DPS growth prospects, constructive regulatory environment, favorable environmental position and free cash flow outlook," the firm comments.

For an analyst ratings summary and ratings history on Cleco click here. For more ratings news on Cleco click here.

Shares of Cleco closed at $41.61 yesterday, with a 52 week range of $33.80-$45.30.

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