UBS Raises Price Target on DTE Energy (DTE) to $112; Reiterates Buy

September 29, 2016 7:42 AM EDT
Get Alerts DTE Hot Sheet
Price: $98.28 +0.14%

Rating Summary:
    10 Buy, 8 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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UBS reiterated a Buy rating on DTE Energy (NYSE: DTE), and raised the price target to $112.00 (from $108.00), following announce public offering.

Analyst Julien Dumoulin-Smith commented, "Providing limited EPS benefits through 2019 despite employing equity units, which limits the near-term dilutive impact, the deal has limited impacts to the company through the medium-term despite the $1.3 Bn price tag. While complementary to existing midstream efforts, the transaction price is more surprising than the strategic logic in pursuing the deal. Total 1+Bcf/d potential expansion highlights increased confidence around growth targets and we expect EEI update to provide both an updated capex plan and increased CAGR targets."

For an analyst ratings summary and ratings history on DTE Energy click here. For more ratings news on DTE Energy click here.

Shares of DTE Energy closed at $94.88 yesterday.

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