DTE Energy (DTE) PT Lowered to $148 at BMO Capital

BMO Capital analyst James M. Thalacker lowered the price target on DTE Energy (NYSE: DTE) to $148.00 (from $151.00) while maintaining a Market Perform rating.

The analyst commented: "On whole, we believe DTE's PFD in its ongoing electric case represents a net positive. Although the ALJ's recommendation on the Infrastructure Recovery
Mechanism (IRM) was disappointing, after Staff's recommendation for a 9.80% ROE n August, the proposed 9.90% ROE aligns with MPSC commentary on the issue and should reassure investors. On the IRM, the ALJ did not fully support Staff's position and declined to extend the mechanism beyond 2027. Our MTM/SOTP moves to $148 as our base valuation year rolls to 2028. Our estimates remain unchanged. Remain Market Perform."

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