Market data chart with calculator
Markets

Duke Energy Upgraded to “Buy” at Goldman Sachs (DUK)

Electric power and natural gas provider Duke Energy Corporation ( DUK ) on Wednesday caught a big upgrade from analysts at Goldman Sachs.

The firm said it boosted its rating on DUK from "Neutral" to "Buy" with a $22 price target, suggesting a 6.3% upside to the stock's Tuesday closing price of $20.68.

Goldman noted that price increases and lower regulatory risk should help drive multiple expansion in upcoming quarters. Accordingly, the analyst raised its 2012 and 2013 earnings estimates for DUK to 6% and 8% above Wall Street consensus levels, respectively.

Duke Energy shares posted modest gains in premarket trading Wednesday.

The Bottom Line

We have been recommending shares of Duke Energy ( DUK ) since Dec.1, 2009, when the stock was trading at $16.68. The company has a 4.84% dividend yield, based on last night's closing stock price of $20.68.

Duke Energy Corporation ( DUK ) is a "Highly Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.8 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 .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

DUK

Other Topics

Stocks

Latest Markets Videos