- Duke Energy (DUK +0.5%) is reiterated with a Buy rating and a new Street-high $99 price target at Argus, which expects DUK’s rate base growth over the next 4-5 years to be above the peer-group average, which should drive long-term earnings growth.
- The firm says DUK is benefiting from positive changes in its electric rate structures, which it believes will improve the company’s balance sheet, grow cash flow and offer a ~4.1% dividend yield, making the shares a sound long-term holding for income-oriented investors.