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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DUK:
- Duke Energy to pull CATL batteries from Marine Corp base, Reuters says
- Options Volatility and Implied Earnings Moves Today, February 08, 2024
- Duke Energy reports fourth-quarter and full-year 2023 financial results
- Duke Energy reaffirms long-term adjusted EPS growth rate 5%-7% through 2028
- Duke Energy sees FY24 adjusted EPS $5.85-$6.10, consensus $5.98