Jefferies Upgrades El Paso Electric Company (EE) to Buy

Jefferies upgraded El Paso Electric Company (NYSE: EE) from Hold to Buy with a price target of $35.50 (up from $35).

The firm comments, "We are upgrading El Paso Electric to Buy from Hold due to our expectation that the company will reach a regulatory settlement in the next several weeks. The company filed a motion with the Public Utility Commission of Texas to suspend the procedural schedule to facilitate settlement discussions with intervenor parties."

For an analyst ratings summary and ratings history on El Paso Electric Company click here. For more ratings news on El Paso Electric Company click here.

Shares of El Paso Electric Company closed at $31.48 yesterday.

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