UPDATE: Deutsche Bank Upgrades Duke Energy Corporation to Buy on Growth, Catalysts
Deutsche Bank raised its rating on Duke Energy Corporation (NYSE: DUK) from Hold to Buy and increased its price target from $68 to $69.
Deutsche Bank commented, "When the dust settles, the level of fiscal drag will be a key factor – with utilities seeing a safety bid if the economy disappoints. Regulated Buys are mostly where we see aboveaverage growth and below-average regulatory risk at a fair price, ideally with catalysts. With sales under pressure from secular trends (e.g. efficiency) and ROEs drifting down, we increasingly see higher value in decoupling mechanisms, trackers or lack of rate cases. DUK does not tick all these boxes, but looks the best value of large cap regulateds and would benefit in the event of a favorable tax rate outcome."
Duke Energy Corporation closed at $64.76 on Monday.
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