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Fly News Breaks for February 18, 2020
Feb 18, 2020 | 06:14 EDT
Credit Suisse analyst Michael Weinstein upgraded Duke Energy to Outperform from Neutral with a price target of $108, up from $96. The analyst increased his 2020 earnings per share estimate a nickel to $5.25 for higher rate-base growth across the utilities, partially offset by reduced solar investment tax credit recognition for a higher quality mix of earnings. He sees last year's $2.5B equity forward that was issued to support any contingency associated with the Atlantic Coast Pipeline project as providing Duke Energy the flexibility to fund additional accretive organic growth in the meantime.