UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on UNS Energy Corp.

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on UNS Energy Corp. (NYSE: UNS), and raised its price target from $48.50 to $50.00.

Jefferies noted, “UNS Energy subsidiary Tucson Electric Power reached a preliminary settlement with the Arizona Corporation Commission in the company's GRC. The terms will be discussed at an open ACC meeting on January 23, 2013 at 2pm local time.”

UNS Energy Corp. closed on Tuesday at $44.06.