DTE Energy (DTE) PT Raised to $138 at KeyBanc

KeyBanc analyst Sophie Karp raised the price target on DTE Energy (NYSE: DTE) to $138.00 (from $136.00) while maintaining a Overweight rating.

The analyst commented, "We rate shares of DTE Overweight and with a price target of $138. DTE expects investments in the Electric segment supporting grid reliability and clean generation to drive earnings in 2024. DTE has also seen the Gas (renewable and infrastructure improvements) and Vantage (RNG projects and new custom energy solution projects) segments experience y/y growth YTD in 2024. We expect this trend to continue. We believe that DTE should benefit from the positive load growth trends in its region and increased resilience spending in MI while operating in a constructive regulatory environment to provide momentum through 2024, validating a premium to the sector average."

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