Duke Energy downgraded to Sector Weight from Overweight at KeyBanc

KeyBanc downgraded Duke Energy (DUK) to Sector Weight from Overweight without a price target Following a successful multi-year restructuring process, and several constructive regulatory outcomes across its core jurisdictions, Duke is now trading at a slight valuation premium to peers, the analyst tells investors in a research note. The firm says the the stock has also benefited from growing power demand trends and its favorable positioning with respect to economic growth and data center development in its territories. It believes this valuation is deserved, but sees better upside elsewhere in the utilities space at this juncture.