Reliant (RRI), et al: CS Upgrades Energy Companies

Credit Suisse upgraded 4 energy companies citing rising energy prices:

  • Reliant Energy (RRI) upgraded from Neutral to OUTPERFORM (target $31).
  • Public Service (PEG) upgraded from Neutral to OUTPERFORM (based on earnings growth through utility investment, valuation, upside from U.S. CO2 policy; target $51).
  • FirstEnergy (FE) upgraded from Neutral to OUTPERFORM (potential upside from an Ohio resolution; target $88).
  • Exelon (EXC) upgraded from Neutral to OUTPERFORM (target $95).

Deutsche Bank upgraded Exelon (EXC) from Hold to BUY (target to $102 from $94).

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