Goldman Sachs upgraded Duke Energy (DUK) to Buy from Neutral with a price target of $132, up from $125. The firm has become more constructive on the company’s outlook from a load growth, generation capex, regulatory and balance sheet perspective. Duke’s valuation is also more compelling as the stock trades at a discount to other premium utilities, the analyst tells investors in a research note. Goldman says Duke screens positively among the regulated utilities, as it has one of the highest expected growth rates through 2029, supported by robust load growth rate in the Carolinas region.
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