Goldman analyst Michael Lapides upgraded Duke Energy to Buy and raised its price target to $85 from $82 saying relative valuation is compelling. Lapides said Duke has taken various strategic actions that have shifted the company towards a stable regulatory infrastructure business and believes rate case filings and continued O&M cost management should mitigate North Caroline regulatory lag. The analyst also downgraded the Utilities sector to Cautious from Neutral saying valuations now appear stretched while earnings growth appears relatively normal.