Rare is the day that one should sell an electric power generation play. And the reasons are compelling: Electricity via wind, solar, and nuclear generation is likely to play a larger role in energy as climate change reduction, then elimination, becomes a societal goal. Electricity also remains a potential propulsion source for cars, given that oil has apparently resumed its climb to uncomfortable levels.
Hence, I'm Reiterating my Buy rating for electric utility Allegheny Energy, Inc. (NYSE: AYE), first recommended on May 30, 2009 at a price of $25.00.
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