BofA Merrill Lynch analyst Julien Dumoulin-Smith upgraded OGE Energy to Buy from Neutral and raised his price target on the stock to $46 from $44, stating that he sees potential for a multiple re-rating as he perceives an improving regulatory backdrop and expects the company to update its capital expenditure forecast shortly after it receives a final order in the pending GRC filing. He sees several near-term potential catalysts, including a capital refresh and divided growth update as well as the potential for a grid modernization rider, the analyst noted.