In a report released yesterday, James Thalacker from BMO Capital maintained a Buy rating on Duke Energy (DUK – Research Report), with a price target of $123.00.
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James Thalacker has given his Buy rating due to a combination of factors that highlight both current challenges and future potential for Duke Energy. Despite DUK shares underperforming peers recently due to a softer outlook for 2025 driven by increased operational and maintenance costs and storm-related contingencies, Thalacker recognizes the long-term growth prospects beyond 2027. Management’s confidence in achieving earnings growth at the upper half of their 5-7% range by 2028-2029 suggests a positive trajectory for the company’s financial performance.
Furthermore, Thalacker appreciates the company’s manageable equity financing requirements and financial flexibility, which are bolstered by a strong regulated asset base and sound financial forecasts. The company’s strategic focus on renewable development, the execution of its Clean Energy Plan, and the potential benefits from regulatory frameworks in North Carolina further support the Buy rating. These factors, combined with a derisked regulatory calendar and expected demand growth, underscore a positive outlook for Duke Energy.
In another report released on February 14, Evercore ISI also maintained a Buy rating on the stock with a $123.00 price target.