UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on DTE Energy

In a report published Wednesday, Credit Suisse Group reiterated its Outperform rating on DTE Energy Company (NYSE: DTE), and raised its price target from $59.00 to $65.00.Credit Suisse noted, “Michigan's recent narrowing in electric decoupling will enable Detroit Edison to meaningfully benefit from favorable 2Q12 weather. We expect 2Q EPS of $0.73 vs Street's $0.52 (Factset) and full year 2012 guidance to be comfortably reaffirmed. Key topics and drivers to expect on the earnings call...We expect discussion on the ability to stay-out in response to continued strengthening in MI fundamentals and continued focus on cost cutting. We believe DetEd's ability to stay-out to closer match the $300 MM '15 Fermi securitization roll-off while earning its allowed ROE highlights strong mgmt and Michigan's constructive (premium) regulation.”DTE Energy Company closed on Tuesday at $60.60.