Wells Fargo Upgrades Cleco (CNL) to Outperform

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Goldman Sachs Upgrades Cleco (CNL) to Buy, Premium Multiple Warranted

October 23, 2012 7:14 AM EDT

Goldman Sachs upgraded Cleco (NYSE: CNL) from Neutral to Buy with a price target of $45.00 (from $44.00).

The firm cites: 1) sizable free cash flow after 2012, (2) above average dividend growth of 10%-15% annually through 2014 and (3) above average EPS growth, as we expect the state... More