Duke Energy (DUK) PT Raised to $116 at Mizuho

Mizuho analyst Anthony Crowdell raised the price target on Duke Energy (NYSE: DUK) to $116.00 (from $99.00) while maintaining a Neutral rating.

The analyst commented: "DUK posted a big quarterly beat ($1.18 vs $1.02est) driven by weather ($0.14) and rate case outcomes. We believe the investor takeaway is the continued execution of the company's regulatory strategy across the entire Duke footprint. Since 2023 Duke has received approval for $75B of investments and we anticipate the recent Florida rate settlement will get regulatory approval later this year. Although management reaffirmed their FFO/debt target of 14% and EPS CAGR of 5-7% we remain Neutral on the stock given it trades at a ‾7% P/E premium. We raise our PT to $116 (from $99) on current multiples."

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