UBS upgraded DTE Energy (DTE) to Buy from Neutral with a price target of $143, up from $129. The firm says the stock is mis-pricing the company’s top quartile Michigan regulatory environment, 6.9% utility earnings growth, exposure to Section 45z tax credits and its limited need for equity. DTE trades at a 7% discount to the utility group versus a 3% five year average premium, the analyst tells investors in a research note.
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Read More on DTE:
- DTE Energy price target lowered to $128 from $131 at Morgan Stanley
- DTE Energy announces additional $100M investment to rebuild electric grid
- Barclays remains Buy on DTE Energy on weakness
- Jefferies power/utilities analysts hold an analyst/industry conference call
- DTE Energy price target raised to $145 from $133 at Wells Fargo
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