Duke Energy upgraded to Outperform from In Line at Evercore ISI

Evercore ISI upgraded Duke Energy to Outperform from In Line with a price target of $108, up from $90. The company has a “much cleaner story” after its non-regulated renewable asset sale and North Carolina rate case outcome, says the analyst, who sees Duke as having the best total return potential among regulated large cap utility names. The firm, which models 6% EPS growth in its base case, expects Duke to provide its 2024 EPS guidance range in February with a midpoint in line with the $5.98 per share Street consensus.