DTE Energy initiated with a Buy at Ladenburg

Ladenburg initiated coverage of DTE Energy with a Buy rating and $131 price target. The analyst expects DTE to experience above average 7.5% earnings growth through 2027, driven by significant utility rate base spending and expected contribution from Section 45Z tax credits. With the likely adoption by Michigan of legislation extending the sales and use tax exemption to data centers, Ladenburg foresees a strong probability that utility spending numbers will increase, the analyst tells investors in a research note.