UPDATE: Deutsche Bank Downgrades Duke Energy to Hold on Valuation

Deutsche Bank downgraded Duke Energy

from Buy to Hold and maintained a $69.00 price target. Deutsche Bank commented, "DUK has outperformed year to date and despite a pullback yesterday is trading north of our $69 price target. While the meeting largely met expectations, doubts were raised around the robustness of the growth forecast and we did not see sufficient incremental positives to justify a target increase. We would continue to view DUK as a core holding for investors wanting exposure to larger cap US utilities, but we no longer see enough return potential to keep our Buy rating." Duke Energy closed at $69.25 on Thursday.