Goldman Calls Downside in Duke Energy (DUK) Shares 'Overdone'
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Price: $123.72 -0.22%
Rating Summary:
16 Buy, 17 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
Rating Summary:
16 Buy, 17 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
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Bulls in Duke Energy (NYSE: DUK) are failing to gain some traction Monday morning despite a reassuring research note from analysts at Goldman Sachs.
Following a nearly 5 percent decline in the stock since Duke announced a CEO transition and updated its FY12 outlook, Goldman believes the overhang is overdone.
Amid the near-term call to own the stock, Goldman reduced estimates in order to account for: "(1) dilution from the PGN merger, which we forecast at 2%-4% in our pro forma model prior to the merger closing (2) a minor delay in the rate case timeline in the Carolinas, given regulatory investigations into the management changes, and slightly lower expected authorized RoE there, and (3) revised demand/power price assumptions."
Goldman maintains a Buy rating and boosted its 12-month price target on Duke shares from $69 to $70.
Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Duke Energy.
Following a nearly 5 percent decline in the stock since Duke announced a CEO transition and updated its FY12 outlook, Goldman believes the overhang is overdone.
Amid the near-term call to own the stock, Goldman reduced estimates in order to account for: "(1) dilution from the PGN merger, which we forecast at 2%-4% in our pro forma model prior to the merger closing (2) a minor delay in the rate case timeline in the Carolinas, given regulatory investigations into the management changes, and slightly lower expected authorized RoE there, and (3) revised demand/power price assumptions."
Goldman maintains a Buy rating and boosted its 12-month price target on Duke shares from $69 to $70.
Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Duke Energy.
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