Analyst Carly Davenport of Goldman Sachs maintained a Hold rating on Duke Energy (DUK – Research Report), with a price target of $100.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Carly Davenport’s rating is based on a combination of factors that influence Duke Energy’s market position and future growth prospects. One key reason for the Hold rating is the stock’s underperformance compared to its more defensive peers year-to-date, which suggests that there is room for improvement. Additionally, Duke Energy is making regulatory progress in building significant generation capacity, which is not yet reflected in the current stock price.
While these developments are promising, the Hold rating indicates a cautious approach, as the potential for future gains is balanced by existing market conditions. The anticipated total return to the price target of $132 suggests a moderate upside, which supports the decision to maintain a Hold rating rather than a more aggressive Buy recommendation. This balanced view takes into account both the positive regulatory advancements and the need for further evidence of sustained performance improvements.
Davenport covers the Utilities sector, focusing on stocks such as Vistra Energy, American Electric Power, and Duke Energy. According to TipRanks, Davenport has an average return of 6.5% and a 62.07% success rate on recommended stocks.
In another report released on June 18, Morgan Stanley also maintained a Hold rating on the stock with a $124.00 price target.