UPDATE: Mizuho Securities Upgrades OGE Energy (OGE) to Buy

(updating comment)

Mizuho Securities analyst Anthony Crowdell upgraded OGE Energy (NYSE: OGE) from Neutral to Buy with a price target of $37.00 (from $36.00).

The analyst comments "We are upgrading OGE to Buy from Neutral based on an improving Oklahoma regulatory environment. We also update our forecast model, revise our midstream outlook, and incorporate the impact of COVID-19 shelter-in-place orders at OG&E and higher capital spending from a growing probability of a settlement in the utility's Grid Enhancement Plan filing. Lastly, we are increasing our PT to $37 from $36 based on updated market multiples and earnings estimates."

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

Shares of OGE Energy closed at $33.53 yesterday.

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