UBS Reiterates Buy Following Duke Energy's (DUK) 4Q
UBS reiterated a Buy rating on Duke Energy (NYSE: DUK), and raised the price target to $82.00 (from $76.00), following the company's 4Q.
Analyst Julien Smith commented, "Following a week in which DUK shares surged to become the most controversial utility among our peer group, we are maintaining our Buy-rating. Mgmt’s delineation of an intact 4-6% range, despite the impact of bonus depreciation, as well as confirmation on the asset sale process, helped keep shares intact initially. The overall Buy-case remains predicated on a re-rating in shares as it moves towards a fully-regulated profile, to sit alongside other core utilities."
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Shares of Duke Energy closed at $74.55 yesterday.