UBS analyst Daniel Ford upgraded DTE Energy to Buy from Neutral with a price target of $143, up from $141. Following the announcement of the $2.65B Indigo acquisition, DTE has lagged peers and trades at an 11% discount to the Regulated Utility universe on 2021 earnings estimates, Ford tells investors in a research note. However, DTE will continue building its track record for beating initial earnings guidance, which should drive a re-rating in the stock, contends the analyst.

Scotiabank lowered the firm's price target on DTE Energy to $120 from $129 and keeps an Outperform rating on the shares. Interest rates remain stubbornly high, which has weighed on the sector's valuation, the analyst tells investors. The firm views both Canadian and North American utility stocks as undervalued but sees upside for Canadian utility stocks following their steady underperformance compared to its U.S. peers. Fundamentally, Scotiabank remains bullish on the group's long-term earnings outlook given the tailwinds driving its strong rate base growth.