Deutsche Bank is out with its report today on Duke Energy DUK, raising its price target from $17.50 to $18.
In a note to clients, Deutsche Bank writes, "With its Q4 release, DUK initiated 2011 EPS guidance of $1.35-$1.40, well ahead of our $1.25E and above consensus of $1.34. The new guidance sets the base upon which PGN and DUK expect to grow long-term EPS (4-6% per year), implying the potential for higher earnings at the merged company, though not without risks, than we had previously anticipated. We are raising our estimates and price target from $17.50 to $18, but maintaining our Hold rating given limited total return potential."
Shares of DUK closed Thursday at $18.12, up 2.37% from Wednesday's close.
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