Analyst James Thalacker of BMO Capital maintained a Hold rating on DTE Energy (DTE – Research Report), boosting the price target to $135.00.
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James Thalacker has given his Hold rating due to a combination of factors related to DTE Energy’s future growth prospects and current market performance. Despite increased confidence in DTE’s ability to achieve growth at the higher end of its 6-8% outlook, the decision to maintain a Hold rating reflects the current valuation and strategic execution. The company’s shares have performed well, outpacing peers since its recent update, and management has demonstrated the potential for further growth through 2028.
However, Thalacker remains cautious, noting that shares are trading below their historical premium average and expects them to remain in a narrow range in the near term. The Hold rating considers the need for the company to continue executing its strategic initiatives, including securing regulatory outcomes and capitalizing on growth opportunities like the 45Z tax credits. Additionally, while DTE has a robust capital plan and aims to maintain strong financial metrics, these factors contribute to the decision to wait for more visibility before upgrading the rating.