- Duke Energy (DUK +0.4%) edges higher at the open after Goldman Sachs issues a two-notch upgrade to Buy from Sell with a $93 price target, up from $88, saying the stock has lagged the sector index by 18% YTD and most negative catalysts have played out.
- Goldman's Michael Lapides says DUK trades at a discount to peers, even on his below-consensus estimates, but the "bad news" for the company already is out and the valuation "appears more compelling here."
- Separately, Mizuho initiates coverage of DUK with a Neutral rating and $90 price target, saying the stock's significant price-to-earnings discount is warranted given the company's debt and future regulatory risk surrounding coal ash recovery.
- DUK's Sell Side Rating, Seeking Alpha Authors' Rating and Quant Rating are all Neutral.