BofA downgraded Duke Energy to Neutral from Buy with a price target of $96, down from $105, following the relative outperformance of the stock since June 30 and what the analyst calls a “net disappointing” Q4 update. At the headline level, the firm calculates that the guidance update is 2%-3% negative for 2025-plus EPS, says the firm, which lowered its 2024 EPS estimate by 5c and its 2025-plus EPS estimate 10c to reflect refreshed rate base, capex and equity estimates.
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