WGL Holdings upgraded to Buy at Brean Capital

Brean Capital upgrades WGL Holdings (WGL) to Buy from Hold and raises its PT to $46 (potential upside of 13.2%).

Analyst Michael Gaugler: WGL shares "have come off recent highs and are now trading at a level we consider attractive ... [W]e consider the recent announcement of conditional approval of Dominion's Cove Point facility for LNG export as a positive development in terms of future investment opportunities, given the company's one-third interest in the Commonwealth Pipeline project, which we believe will be revisited due to future increased demand."

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