In a report published Friday, Jefferies analyst Paul B. Fremont reiterated a Buy rating on OGE Energy Corp. OGE, and raised the price target from $42.50 to $44.50.
In the report, Jefferies noted, “OGE is preparing a compliance strategy for the EPA's federal implementation plan for regional haze recently upheld by the courts. Compliance spending could add $1.0 billion to the company's budgeted capex and may result in equity issuance If the spending is front end loaded. Jefferies estimates potential accretion of $0.10 by 2015 assuming a portion of the spending is funded with new equity.”
OGE Energy Corp. closed on Thursday at $38.31.
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