BTIG Lowers Duke Energy (DUK) Price Target by $2, Maintains ‘Buy’ Rating

Duke Energy Corporation (NYSE:DUK) is included among the 10 Best Renewable Energy Stocks to Buy According to Billionaires.

BTIG Lowers Duke Energy (DUK) Price Target by $2, Maintains 'Buy' Rating

Duke Energy Corporation (NYSE:DUK) engages in the distribution of natural gas and energy-related services. The company owns and operates a diverse mix of regulated power plants – including hydro, nuclear, solar, battery storage, etc.

On June 2, BTIG trimmed its price target on Duke Energy Corporation (NYSE:DUK) from $141 to $139, but maintained a ‘Buy’ rating on the shares. The lowered target still indicates an upside of almost 15% from the current levels.

BTIG believes that Duke Energy Corporation (NYSE:DUK)’s relatively new management has improved the company’s financial execution. The analyst firm also expressed optimism regarding the utility’s scale, geographical diversity, and prudent approach to managing the soaring load growth.

Duke Energy Corporation (NYSE:DUK) has also emerged as a key energy supplier in the ongoing AI boom. The utility signed 2.7 GW of electric service agreements with data center customers during the first quarter, bringing its total executed agreements to around 7.6 GW. Moreover, the company announced that it was in advanced discussions on ​a further 15.4 GW of data centers.

With a robust annual dividend yield of 3.52%, Duke Energy Corporation (NYSE:DUK) was also recently included in our list of the 12 Best Dividend Stocks to Invest In According to Hedge Funds.

While we acknowledge the risk and potential of DUK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DUK and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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