OGE Energy initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of OGE Energy (OGE) with an Overweight rating and $52 price target The firm says the company “stands out” as a smaller cap vertically integrated electric utility with “meaningful leverage” to accelerating infrastructure demand tied to Oklahoma’s economic development activity. OGE is well positioned to execute against the top end of its 5%-7% annual earnings growth range, with potential to exceed this growth target should capacity needs materialize above expectations, the analyst tells investors in a research note.