OGE Energy price target raised to $38 from $37 at Barclays

Barclays analyst Nicholas Campanella raised the firm’s price target on OGE Energy to $38 from $37 and keeps an Overweight rating on the shares. The analyst upgraded the U.S. Utilities sector to Positive from Neutral, getting more constructive into 2024. The backdrop of the sector being one of the worst performers in 2023, along with a declining cost of capital narrative, should allow for utilities to outperform in the first half of 2024, the analyst tells investors in a research note.