BofA raised the firm’s price target on DTE Energy to $122 from $116 and keeps a Buy rating on the shares after DTE issued 2024 EPS guidance of $6.54-$6.83 and rolled ahead its 6%-8% guidance range following a “constructive rate case outcome” for DTE Electric. Following a negative Q3 update and 2023 guidance cut, investors had been concerned about the long-term viability of the 6%-8% range, but the latest update represents “a de-risk,” the analyst says.
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