Duke Energy (DUK – Research Report), the Utilities sector company, was revisited by a Wall Street analyst today. Analyst Elizabelle Pang from DBS maintained a Buy rating on the stock and has a $125.00 price target.
Elizabelle Pang’s rating is based on Duke Energy’s strong financial performance and strategic investment plans. The company reported in-line earnings growth for 4Q24 and FY24, with a 10% and 6% year-over-year increase, respectively. This performance aligns with management’s guidance and demonstrates Duke’s ability to maintain steady earnings despite challenges such as hurricane impacts.
Moreover, Duke Energy’s future outlook is promising due to its comprehensive capital expenditure plan, which has been increased by 12% to USD 83 billion. This plan focuses heavily on enhancing grid infrastructure and expanding renewable energy capacity, positioning Duke as a key player in the transition to sustainable energy solutions. The company’s strategic investments, along with supportive government policies, provide a positive backdrop for continued growth, justifying the Buy rating with a target price of USD 125.
Pang covers the Consumer Cyclical sector, focusing on stocks such as General Motors, Tesla, and Honda Motor Co. According to TipRanks, Pang has an average return of 0.7% and a 50.70% success rate on recommended stocks.
In another report released on February 21, Jefferies also reiterated a Buy rating on the stock with a $132.00 price target.