Jefferies Upgrades OGE Energy (OGE) to Buy
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Price: $45.74 -0.63%
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Rating Summary:
8 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
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Jefferies upgraded OGE Energy (NYSE: OGE) from Hold to Buy with a price target of $47 (down from $51.50).
The firm states, "We are upgrading OGE Energy to BUY from Hold because you are getting a free option on Enogex’s processing business. Due to the uncertain macro-economic picture investors have subscribed very little value to this business. Even on depressed commodity prices (and lower multiples) this business is worth $3.50/share."
For more ratings news on OGE Energy click here and for the rating history of OGE Energy click here.
Shares of OGE Energy closed at $45.00 yesterday.
The firm states, "We are upgrading OGE Energy to BUY from Hold because you are getting a free option on Enogex’s processing business. Due to the uncertain macro-economic picture investors have subscribed very little value to this business. Even on depressed commodity prices (and lower multiples) this business is worth $3.50/share."
For more ratings news on OGE Energy click here and for the rating history of OGE Energy click here.
Shares of OGE Energy closed at $45.00 yesterday.
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