JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com - Jefferies has lowered its price target on Duke Energy (NYSE:DUK) to $133.00 from $138.00 while maintaining a Buy rating on the utility company’s stock. The $91.3 billion market cap utility giant, which trades at a P/E ratio of 19.57, has demonstrated steady performance with a 5.22% revenue growth over the last twelve months.
The firm notes that Duke Energy is positioned to benefit from data center growth, with a substantial 5.9 gigawatt large-load pipeline in development, reflecting broader industry trends as utilities across the country prepare for increased demand from data centers. With a stable 3.56% dividend yield and a 17-year streak of dividend increases, Duke Energy offers investors both growth potential and income stability.
Jefferies points out that Duke Energy’s data center strategy aligns with industry-wide movements, though without generating the same level of market hype seen with other utilities pursuing similar growth opportunities.
The price target reduction follows a veto in North Carolina of Senate Bill 266, which would have provided Duke Energy with near-term regulatory benefits including Construction Work in Progress (CWIP) recovery and extended carbon compliance timelines.
Despite the setback from the veto, Jefferies indicates that legislative dynamics in North Carolina suggest override attempts of the veto remain possible, potentially restoring these regulatory advantages for Duke Energy in the future.
In other recent news, Duke Energy Corporation reported strong financial results for the first quarter of 2025, with an adjusted earnings per share (EPS) of $1.76, surpassing analysts’ expectations of $1.48. The company’s revenue also exceeded projections, reaching $8.25 billion against an anticipated $7.81 billion. BMO Capital Markets responded by raising its price target for Duke Energy from $123.00 to $131.00, maintaining an Outperform rating. Similarly, Jefferies increased its price target to $138.00 and reiterated a Buy rating, highlighting the company’s recent success in securing data center operations agreements. Duke Energy also announced a request for a 7.7% rate increase in South Carolina, which would result in an overall annual revenue increase of $150.5 million if approved. Additionally, Duke Energy promoted two executives, Pepper Natonski and Tom Craig, to lead its federal affairs division, effective July 1. The company is also planning a merger of its DC and DEP utilities, which is expected to generate over a billion dollars in customer savings and is targeted for completion by January 2027.
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