DTE Energy price target raised to $137 from $120 at Scotiabank

Scotiabank raised the firm’s price target on DTE Energy to $137 from $120 and keeps an Outperform rating on the shares. The firm believes utility stocks are “finally catching a bid,” likely due to a combination of falling Treasury yields, anticipated central bank rate cuts, rising concerns of slowing macroeconomic growth, and heightened geopolitical concerns in the U.S., the analyst tells investors. Additionally, fundamental growth outlooks are robust, the firm adds.