This Is Why BMO Capital Raised Duke Energy (DUK)’s Price Target

Duke Energy Corporation (NYSE:DUK) is one of the top utility stocks to buy now. On April 13, analysts at BMO Capital reiterated an Outperform rating on Duke Energy Corporation (NYSE:DUK) and increased the price target to $143 from $136.

This Is Why BMO Capital Raised Duke Energy Corporation's (DUK) Price Target

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The research firm reiterates its expectation of a limited set of updates in the upcoming May 5 earnings release for the first quarter of 2026. Nevertheless, it expects investors to pay close attention to the ongoing North Carolina rate case and the IURC listening meetings.

The firm, however, remains bullish on the company’s long-term prospects, driven by continued large-scale onboarding activity. That’s because the company’s forecasts reflect just 75% data center uptake, leaving room for earnings and growth upside heading into 2028.

Duke Energy is poised to reduce its debt by about $800 million upon completing the sale of its Tennessee Piedmont Natural Gas business to Spire Inc. for $2.48 billion. The transaction is poised to help the company efficiently fund its capital plan.

Duke Energy Corporation (NYSE:DUK) is one of America’s largest energy holding companies, serving 8.6 million electric customers and 1.7 million natural gas customers across six states in the Southeast and Midwest. It generates, transmits, and delivers electricity and natural gas, with a focus on modernizing the grid and investing in renewables, nuclear, and natural gas infrastructure.

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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