Duke Energy price target lowered to $123 from $128 at BMO Capital

BMO Capital lowered the firm’s price target on Duke Energy (DUK) to $123 from $128 and keeps an Outperform rating on the shares. The firm is forecasting a positive comp driven primarily by load/customer growth and rate relief partially offset by higher utilities interest expense, operating expenditure, and parent drag, the analyst tells investors in a research note. Duke’s earnings call should see investors focus on the outlook for economic development/load growth, tariffs/supply chain exposure, reconciliation of H3309 in SC, balance sheet and credit metric progression, and potential asset sales, BMO added.