DTE Energy (DTE) PT Raised to $120 at BMO Capital

BMO Capital analyst James Thalacker raised the price target on DTE Energy (NYSE: DTE) to $120.00 (from $119.00) while maintaining a Market Perform rating.

The analyst commented, "DTE’s 1Q24 EPS was in line with expectations at $1.67 vs. consensus/BMO estimates of $1.67/$1.68. Overall, it was a quiet quarter as expected with limited incremental updates. With a less challenging beginning to the year (weather, storms, rate relief), management highlighted it was in a much better position this year but has already been active to rebuild contingency for weather going into the summer. As such, management reiterated 2024 guidance range of $6.54-6.83. We remain Market Perform. Our target price rises to $120 as we MTM our peer group multiples."

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