Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - UBS reiterated its Buy rating and $148.00 price target on DTE Energy (NYSE:DTE) on Tuesday, citing expectations of a stable management transition to newly appointed CEO Joi Harris.
Harris, who is well known to investors, brings 20 years of experience working alongside Jerry Norcia, who will transition to Executive Chairman of the DTE Board of Directors. Norcia has served as CEO since 2019, leading the company through challenging storm events.
UBS noted that Norcia has guided DTE to a stable position of service reliability and affordability for customers. The firm also highlighted his important role in passing energy legislation on multiple occasions.
The investment bank recommends DTE for what it describes as the premium utility business in Michigan. UBS also pointed to undervalued unregulated renewable and cogeneration segments at DTE Vantage.
DTE Energy operates as a diversified energy company, providing electricity and natural gas services to customers in Michigan while also maintaining renewable energy and cogeneration businesses through its DTE Vantage segment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.