UBS Upgrades Duke Energy (DUK) to Buy; Consolidated Company Creates Scale and Value Creation Potential

UBS upgraded Duke Energy (NYSE: DUK) from Neutral to Buy. PT increased from $22 to $24.

Analyst, Jim von Riesemann, said, "(1) The first two of three key regulatory rulings are due by Friday from Federal regulators; (2) Duke (NYSE: DUK) / Progress (NYSE: PGN) would create sector’s largest utility by market cap ($45.3B) likely driving indices and portfolio rebalancing; and, (3) modest $300MM (out of $6.0B) in combined O&M savings to make deal EPS neutral. Most regulated deals cut about 10%, which equates to roughly 10 cents in incremental EPS, which are not in our numbers."

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

Shares of Duke Energy closed at $21.60 yesterday.

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