RBC Capital upgraded OGE Energy from Sector Perform to Outperform and raised the price target to $54, signaling improved upside potential for the utility. With the stock near $45.99, the target implies roughly 17% upside and could attract momentum buyers in the near term, subject to broader market and utility-sector dynamics.
Summary: - OGE Energy Corp shares rose 1.5% to $35.57 following Q1 2024 results. - First-quarter earnings of 9 cents per share missed estimates by 74.3%. - Operating revenues rose 7.1% to $596.8 million, missing estimates by 1.7%. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings