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• DUK 83% Rate It

Citigroup has increased its rating on energy company, Duke Energy Corp.( DUK ) to a "Buy" Thursday.

The firm has boosted its rating of the Charlotte, NC based company from "Neutral" to a "Buy," and has raised its price target from $69 to $72. This new price target suggests a 9% increase over the stock's current price of $65.42, and an 8% increase over the stock's YTD price of $66.

Analysts from the firm noted, "in short, we believe DUK's recent underperformance now merits an attractive entry point. Investor concerns remain centered on Crystal River nuclear Unit 3 and the outcomes of upcoming Carolina rate cases. Complete resolution of both processes is likely several months away. However, establishing conservative base case estimates for potential outcomes yields forward EPS estimates only slightly below consensus. This suggests uncertainty has defaulted investors to an overly pessimistic perspective - creating an attractive entry point into shares of DUK."

Duke Energy shares were mostly flat on Thursday morning.

The Bottom Line
Shares of Duke Energy ( DUK ) have a 4.69% dividend yield, based on last night's closing stock price of $65.27. The stock has technical support in the $61-$62 price area. If the shares can firm up, we see overhead resistance around the $68-$70 price levels.

Duke Energy Corp.( DUK ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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