Market Overview

UPDATE: Deutsche Bank Raises PT on DTE Energy on Challenges Ahead

Share:
Related DTE
DTE Energy Misses On Q3 Earnings, Raises '17 Outlook
Mid-Morning Market Update: Markets Mostly Lower; Coca-Cola Tops Q3 Estimates

In a report published Wednesday, Deutsche Bank analyst Jonathan Arnold reiterated a Hold rating on DTE Energy Co. (NYSE: DTE), and raised the price target from $71.00 to $72.00.

In the report, Deutsche Bank noted, “With utilities set to finish the year last among sectors for the second straight year, it is surely tempting to argue for a rebound in 2014. But with the Fed exit still in front of us and a continuing overhang from challenging power business fundamentals, investors have plenty of reason to proceed with caution. Compared to April when Fed taper talk began, utilities are at least much better relative value (P/E parity vs. ~20% premium) and closer to their lows in terms of mutual fund positioning. A market growth stall might be utilities' best hope for a winning 2014; in the meantime, we continue to counsel selectivity, mostly favoring better growth or value catalysts over pure defensiveness and yield.”

DTE Energy Co. closed on Tuesday at $66.63.

Latest Ratings for DTE

DateFirmActionFromTo
Oct 2017Credit SuisseMaintainsNeutral
Jan 2017Credit SuisseInitiates Coverage OnNeutral
Jan 2017UBSDowngradesBuyNeutral

View More Analyst Ratings for DTE
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Jonathan ArnoldAnalyst Color Price Target Analyst Ratings

 

Related Articles (DTE)

View Comments and Join the Discussion!

Partner Center