Ross Fowler, an analyst from Bank of America Securities, maintained the Buy rating on DTE Energy (DTE – Research Report). The associated price target remains the same with $143.00.
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Ross Fowler’s rating is based on DTE Energy’s strong financial performance and strategic initiatives. The company reported operating EPS for Q4 and FY’24 that exceeded consensus estimates and aligned well with BofA’s expectations, reaching the top end of its guidance range. Additionally, DTE has set a robust EPS guidance for 2025, indicating confidence in their financial growth prospects.
DTE Electric’s improved earnings, driven by factors such as higher rates and renewable energy gains, contributed significantly to the annual performance. Although there were declines in other segments like DTE Gas and DTE Vantage, the overall outlook remains positive, bolstered by increased capital spending and potential growth from data center development. This strategic positioning, combined with strong EPS growth guidance and further upside from tax credits, underpins Fowler’s Buy rating.
In another report released on January 31, Mizuho Securities also maintained a Buy rating on the stock with a $129.00 price target.