Truist reduced Duke Energy’s price target by $5 to $137, citing model revisions ahead of a utilities sector forum.
Truist analyst Richard Sunderland lowered Duke Energy’s (NYSE:DUK) price target from $142 to $137 while retaining a Buy rating. The adjustment reflects broader model revisions in the Power and Utilities group ahead of the American Gas Association’s Financial Forum. The new target still implies a 10% upside from current levels.
Duke Energy remains a key player in the data center energy demand surge, driven by the AI boom. The company secured 2.7 GW of additional electric service agreements with data center customers in Q1, bringing total executed agreements to 7.6 GW. Advanced discussions are underway for an additional 15.4 GW of data center demand.
The utility operates a diverse mix of regulated power plants, including hydro, coal, nuclear, natural gas, solar, and battery storage. Its 3.42% annual dividend yield continues to attract investor interest amid rising sector growth expectations.