Duke Energy raised to Outperform on expected earnings boost: 4 big analyst picks
Investing.com | Author Davit Kirakosyan
Published Jan 10, 2024 06:58AM ET
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Duke Energy, Woodward , Bloom Energy, and United Continental.
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The analysts noted that Duke Energy is entering 2024 in a strong position, characterized by its fully regulated portfolio and robust regulatory constructs backing up EPS reliability.
Despite being one of the top performers in its sector in 2023, there is an expectation that the company will continue to perform well in 2024, potentially trading close to or in line with its premium peers.
“DUK achieved constructive regulatory outcomes with multi-year rate plans (MYPR) in NC, providing earnings visibility. We believe the key to gaining investor confidence will be earnings execution,” commented the analysts.
Woodward gains on Goldman Sachs upgrade/h2
Woodward (NASDAQ:WWD) shares rose more than 1% pre-market today after Goldman Sachs upgraded the company to Buy from Sell and raised its price target to $153.00 from $105.00.
The analysts highlighted that Woodward's involvement in next-generation aircraft, through its content gains, positions it favorably to benefit from the ramp-up in aerospace original equipment (OE) manufacturing. The bank also pointed out that Woodward, with its relatively high aftermarket mix, is expected to see above-market growth over time, thanks to these content gains.
The company's operational performance has been notably strong since the introduction of new management, and the analysts see no indicators of this changing, given the now-established track record. They anticipate further potential growth in the company's forward consensus estimates.
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