JPMorgan analyst Christopher Turnure says he remains cautious on shares of Duke Energy despite the recent selloff. South Carolina's regulatory environment "has taken a turn for the worse after recent DEP and DEC rulings, and the ACP project remains in limbo," Turnure tells investors in a research note. The analyst sees further risk to estimates and lowered his price target for Duke shares to $90 from $91. He keeps a Neutral rating on the name.

Scotiabank lowered the firm's price target on Duke Energy to $94 from $101 and keeps a Sector Perform 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.