BMO Capital lowered the firm’s price target on DTE Energy to $121 from $127 and keeps a Market Perform rating on the shares. The analyst cites the “long-awaited intervenor testimony” that was filed today in the company’s electric rate case, stating that the MPSC staff’s testimony was a significant positive and an encouraging starting point that could pave the way for potential settlement in the proceeding continuing the recent streaks of settlements in the state. The firm adds however that its price target cut reflects a mark-to-market adjustment on the stock relative to its peer group multiples.
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Published first on TheFly
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