BUZZ-DTE Energy gains as Jefferies upgrades rating to 'buy'

Reuters12-11
BUZZ-DTE Energy gains as Jefferies upgrades rating to 'buy'

** Shares of utility DTE Energy DTE.N rise ~1% to $130.80 premarket

** Jefferies upgrades rating to "buy" from "hold"; raises PT by a dollar to $150

** PT represents a premium of 15.4% to stock's last close

** Brokerage believes likely approval of 1.4 gigawatt Oracle power purchase contract and sizable 3 gigawatt data center pipeline acts as positive catalysts for DTE

** "We see upside to DTE's recently announced robust capital plan with an additional ~3 GW DC in late-stage negotiations" - Jefferies

** Brokerage expects more capex increases before the next five-year plan as data center opportunities open up

** 10 of 19 brokerages rate the stock "buy" or higher, 9 "hold"; median PT is $150 - data compiled by LSEG

** As of last close, DTE up ~8% YTD

(Reporting by Dharna Bafna in Bengaluru)

((Dharna.bafna@thomsonreuters.com))

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