Evercore downgrades Duke Energy after 15% advance

Evercore ISI downgraded Duke Energy (DUK) to In Line from Outperform with a price target of $139, down from $143. While the firm remains “constructive” on Duke’s growth potential given its premium-service state service territory, significant load growth pipeline and electric capex being eligible for efficient-recovery mechanisms, shares have appreciated about 15% since early December, which is why the firm is “comfortable taking a pause.”