The firm said it lowered its rating on the energy company based on a valuation call.
"At current levels...we see the stock well up with events and offering very little headroom for the value investor, even if we assume top-end execution. For sure our call in part reflects our growing caution on regulated utilities as a group with an ongoing "melt-up" pushing the envelope in terms of both relative and absolute value," Deutsche Bank said.
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The firm raised its price target on Duke Energy to $81 from $78.
Separately, TheStreet Ratings team rates DUKE ENERGY CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate DUKE ENERGY CORP (DUK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."