The successful sale of the company's Midwest generation assets to Dynegy (DYN) was cited as the reason for the price target increase, according to analysts.
Regarding the company's rating, the analyst firm reinstated coverage of the North Carolina-based electric power holding company to "neutral" from "outperform."
"While we like the Duke story and see absolute upside potential, we do not find that the stock currently trades fully differentiated from peers, and believe a Neutral rating is best suited for the shares," analysts said.
Separately, Duke Energy will plead guilty to violating the federal Clean Water Act, as recent state-mandated tests found that more than 150 residential wells tested near Duke's dumps in North Carolina have failed to meet groundwater standards, the Associated Press reported. As a result, residents have been advised not to use their water for drinking or cooking.
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 compelling growth in net income, expanding profit margins, growth in earnings per share, reasonable valuation levels and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."