Street View: Duke Energy seen benefiting from expanding infrastructure investment opportunities
** Duke Energy DUK.N beat Q3 adjusted profit estimates, helped by recovery of infrastructure investments and favorable weather conditions
** Median PT of 23 brokerages covering the stock is $130; average rating "buy" - LSEG data
POWER DEMAND FUELS LONG-TERM GROWTH
** Scotiabank ("sector outperform," PT: $146) says growing power demand, particularly from residential customers and large commercial/industrial users, could lead to increase Duke's capital investment plans, which may support higher future earnings growth
** Evercore ISI ("in-line," PT: $140) says it sees the combination of signed large-load agreements and potential expansion as reinforcing the long-term growth story
** "Timely regulatory recovery, construction execution and disciplined funding remaining key to translating the opportunity into per-share earnings growth" - Evercore
** TD Cowen ("buy," PT: $143) views Q3 earnings as "incrementally positive", with higher near-term earnings confidence, an expanding generation investment opportunity, continued regulatory de-risking, and improved financing visibility
** BTIG ("buy," PT: $$139) says, "with projects converting and associated generation getting added to the plan, additional investment should continue to rise as projects ramp, creating a solid runway into the 2030s"