BMO Capital lowered the firm’s price target on Duke Energy to $100 from $101 but keeps an Outperform rating on the shares after its Q4 results. The company initiated 2024 guidance that was in line with consensus expectations and provided a robust capital plan update, though on the negative side, its FFO to Debt came in at 12.5% for FY23 vs. its 13%-14% target, the analyst tells investors in a research note. BMO added that its positive view on the stock reflects continued expansion of renewable development and fossil fuel retirements, a visible 97%-98% regulated utility profile, and reduced regulatory rate lag in North Carolina
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