UPDATE: Citigroup Raises PT to $23 on Duke Energy; Updates Model

Citigroup reiterates its Neutral rating on Duke Energy

and raises its price target from $22 to $23. Citigroup comments, "We are updating our model for the recently reported quarter. The reduction in our discount factor (from full year to half year) raises our target price to $23." DUK closed at $22.35 on Friday.