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