DTE Energy (DTE) PT Raised to $143 at Jefferies

Jefferies analyst Julian Dumoulin-Smith raised the price target on DTE Energy (NYSE: DTE) to $143.00 (from $129.00) while maintaining a Hold rating.

The analyst comments "Raise PT to $143 (previously $129), reflecting material multiple expansion and marginally increased estimates. We reduce our multiple discount for DTE Vantage to -10% (vs. -20%), but break out the portion attributable to tax credits and remove its multiple. Updated equity issuance guidance drives higher corporate drag despite modest interest rate improvement, and limits latitude to achieve 15%. See our +10% prem for MI utilities as fully reflecting opportunity off an already robust earned ROE assumption: don't see clear upside avenue post recent move."

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