NEW YORK - Shares of Tokyo Electric (Tepco) took a while to open but it was well worth the wait for investors. Shares are up more than 17% in early Japanese trading. Investors have become excited as the amount of liability that Tepco will have to pay appears to be limited.
The company has been put under scrutiny since the March 11 earthquake and tsunami that caused damage to their power stations.
The company was upgraded by one of the banks which loaned them part of their $25 billion. Mizuho Securities set a target price of 900 yen for the stock.
The stock is already up 66% since its record low of 292 yen set last Wednesday.
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