Deutsche Bank talks utilities, adjusts targets

|By:, SA News Editor

Deutsche Bank is out with some commentary on the utilities going into year-end.

Analyst Jonathan Arnold says that with the group "set to finish the year last among sectors for the second straight year, it is surely tempting to argue for a rebound in 2014."

Nevertheless, Arnold thinks that "with the Fed exit still [upcoming] and a continuing overhang from challenging power business fundamentals, investors have plenty of reason to proceed with caution."

Rundown: ETR cut to Hold from Buy, price target cut to $64 from $70; DUK reiterated at Buy, price target hiked to $76 from $74; PCG reiterated at Buy, price target cut to $46 from $48.50; CPN reiterated at Buy, price target cut to $23 from $24; AEP reiterated at Hold, price target raised to $50 from $48; D reiterated at Hold, price target raised to $66 from $64; DTE reiterated at Hold, price target lifted to $72 from $71; NU reiterated at Hold, price target lifted slightly.