Duke Energy upped to Buy at BofA as earnings inflection seen | Utilities Message Board Posts

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Msg  1532 of 1563  at  9/9/2020 4:04:46 PM  by

rlp2451


Duke Energy upped to Buy at BofA as earnings inflection seen

Duke Energy upped to Buy at BofA as earnings inflection seen
Sep. 9, 2020 2:58 PM ET|About: Duke Energy Corporation (DUK)|By: Carl Surran, SA News Editor

Duke Energy (DUK +3.8%) lifts to its highest in a month after Bank of America upgrades shares to Buy from Neutral with an $85 price target, saying the utility looks poised for an inflection in earnings, with a more favorable regulatory backdrop in 2021 and positive revisions to integrated resource plan capital spending.

Current expectations for the stock are low, and investors seem to be overlooking the potential earnings inflection from the regulatory work that the company has been pursuing, BofA Julien Dumoulin-Smith says.

With Duke Energy trading at a 110% discount vs. the broader group, acute fears are already reflected in the share price, Dumoulin-Smith says.

DUK's average Wall Street analyst rating and Seeking Alpha Authors' Rating are both Bullish.


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