DTE Energy price target lowered to $111 from $113 at BMO Capital

BMO Capital lowered the firm’s price target on DTE Energy to $111 from $113 and keeps a Market Perform rating on the shares. The company’s Q4 results were in-line and “expectedly quiet” on the update front given the company’s December presentation when they updated their business plan following a constructive electric rate order, the analyst tells investors in a research note. The stock is trading at a 3% premium to the group as they head into a busy regulatory calendar in 2024, and the firm sees continued execution against 2024 guidance as crucial to unlocking additional multiple expansion, the firm added.