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Fly News Breaks for February 14, 2020
Feb 14, 2020 | 06:21 EDT
BofA analyst Julien Dumoulin-Smith upgraded Duke Energy to Neutral from Underperform with a price target of $106, up from $96. The analyst notes that his prior thesis was underpinned by the negative earnings revision risk due to potential lack of execution and lower quality renewable earnings, with the stock having underperformed the sector index IXU by about 15%. Dumoulin-Smith adds however that his concerns have been dampened by the company's better than expected results and guidance, giving him greater confidence in its outlook. The analyst further cites Duke Energy's improving balance sheet strength and an increase in its guided capital expenditures.
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