BMO Capital raised the firm’s price target on Duke Energy to $110 from $108 and keeps an Outperform rating on the shares. The firm is adjusting its model after the company has reached a settlement in the Duke Energy Carolina’s pending electric case, the analyst tells investors in a research note. The settlement’s proposed rate base of $7.5B would be higher than the company’s filed $7.3B, as $188M of CWIP, or Construction Work in Progress, is included in rate base replacing the ongoing deferral of the grid investment plan costs, the firm added.
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Read More on DUK:
- Duke Energy Carolinas reaches settlement agreement in rate review request
- Duke Energy announces dividend payments to shareholders
- Duke Energy price target raised to $108 from $104 at BMO Capital
- Duke Energy reports first-quarter 2024 financial results
- Duke Energy backs long-term adjusted EPS growth rate 5%-7% through 2028
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