UPDATE: Wolfe Research Downgrades DTE Energy (DTE) to Peerperform
- Wall Street closes lower as inflation jitters spark broad sell-off
- Tesla (TSLA) Sales in China 'Stagnated' in April, Wedbush Notes
- Roblox (RBLX) Gains as Sales Rise 140%, Analyst Raises PT on Strong Growth and Early China Launch
- Dollar holds near 10-week low ahead of inflation report
- Tesla (TSLA) Halts Plans to Buy Land in Shanghai Amid Increased Tensions with China: Report
Wolfe Research analyst Steve Fleishman downgraded DTE Energy (NYSE: DTE) from Outperform to Peerperform with a price target of $139.00 (from $128.00).
The analyst comments "We still view DTE as a high-quality company with premium utilities and a solid midstream business that should be better valued on its own. However, the pro forma entity has already re-rated to a CMS multiple and the midstream entity could face fund flow pressures as the spin nears. After 13% outperformance into and subsequent to the spin announcement, we’re moving to the sidelines."
Shares of DTE Energy closed at $140.68 yesterday.
You May Also Be Interested In
- UPDATE: Credit Suisse Maintains ONEOK Inc (OKE) at Neutral, PT Raised to $53 (correction)
- Walgreens Boosts Alliance (WBA) PT Raised to $55 at Mizuho Securities on COVID-19 Tailwinds
- McKesson (MCK) PT Raised to $205 at Mizuho Securities
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!