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Duke Energy Corporation (NYSE:DUK) is one of the best stocks to buy according to Goldman Sachs’ Conviction List. Goldman added Duke Energy to its U.S. Conviction List in July 2025, with a Buy rating and a $132 price target. The firm pointed to regulatory progress in key markets and the company’s efforts to expand generation capacity, including through its partnership with GE Vernova for natural gas turbines.

The utility case has since become more tied to rising power demand from data centers and industrial growth. On May 5, Reuters reported that Duke Energy beat first-quarter 2026 profit and revenue estimates, helped by favorable weather and recovery of rate-based infrastructure investments. Revenue rose to $9.17 billion from $8.25 billion a year earlier, while adjusted EPS came in at $1.93, above analyst expectations. Reuters also reported that Duke had signed electric service agreements for 7.6 gigawatts of new data center demand since 2024, including 2.7 gigawatts added in Q1 alone.

On May 11, Duke Energy said it applied for Department of Energy loans to support grid and capacity investments while potentially lowering customer financing costs. The company said it serves 8.7 million electric customers and owns 55,700 megawatts of energy capacity.

Duke Energy Corporation (NYSE:DUK) is one of America’s largest energy holding companies, operating electric and natural gas utilities across several U.S. states.

While we acknowledge the potential of DUK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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