Jefferies Starts DTE Energy (DTE) at Buy
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Jefferies initiates coverage on DTE Energy (NYSE: DTE) with a Buy rating and a price target of $102.00.
Analyst Anthony Crowdell commented, "DTE boasts a premier set of utility and midstream assets with an attractive platform of growth. Unlike other utilities that are struggling for rate base growth, DTE has a significant pipeline of distribution and generation opportunities in one of the best regulatory jurisdictions. Even though 20% of earnings are from non-utility businesses, we believe the contracted nature of these assets deserves a regulated valuation and initiate DTE at Buy."
Shares of DTE Energy closed at $90.97 yesterday.
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