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Tuesday, May 30, 2023

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Duke Power downgraded at Credit score Suisse on probably slower development path (NYSE:DUK)

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Duke Power (NYSE:DUK) -0.8% in Friday’s buying and selling as Credit score Suisse downgraded shares to Impartial from Outperform with a $114 value goal, following the utility’s Q2 outcomes the financial institution says level to an “elevated danger of a re-base to the 5%-7% long-term EPS compound annual development charge.

Whereas inspired to see a sale of Duke’s (DUK) business renewable vitality enterprise sooner than anticipated, “after contemplating dilution from the sale and wider strain from rates of interest on Duke’s variable charge debt, we see draw back to consensus EPS estimates,” Credit score Suisse analyst Nicholas Campanella wrote.

Duke (DUK) continues to supply one of many largest renewable transition alternatives within the sector, “however the path to comprehend a 5%-7% EPS CAGR on the excessive finish within the out years is more and more troublesome,” Campanella stated.

Duke Power (DUK) is “a secure utilities firm for unstable instances,” Khen Elazar writes in an evaluation posted on In search of Alpha.

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