Duke Energy price target raised to $102 from $94 at BofA

BofA raised the firm’s price target on Duke Energy to $102 from $94 and keeps a Buy rating on the shares. The analyst says Duke is among a relatively small group of utility stocks that is exiting the year in a “decidedly stronger position than going in.” After executing on an “underwhelming” commercial renewables sale, the company has “racked up regulatory wins in key jurisdictions,” most recently in North Carolina, the analyst tells investors in a research note. The firm says residential decoupling should reduce Duke ‘s earnings volatility on a go-forward basis as well after substantial weather-driven headwinds pressured 2023 toward the low end.