LNT - Alliant Energy upgraded at BMO on 'no regulatory madness'

2023-05-30 10:27:30 ET

Alliant Energy ( NASDAQ: LNT ) +1% in early trading Tuesday as BMO Capital upgraded the stock to Outperform from Market Perform with a $56 price target, citing the company's ability to grow towards the top end of its 5%-7% EPS target range through 2025.

Alliant ( LNT ) shares represent an attractive entry point for investors looking for a utility offering "modest EPS upside and multiple expansion as well as a positive catalyst calendar," BMO analyst James Thalacker wrote.

As regulatory overhangs in Iowa and Wisconsin are mitigated through the end of this year, Thalacker thinks "investors will be able to more fully appreciate the set of positive fall updates (capital plan update, IRA tailwinds), which both solidify the company's current growth outlook and also add visibility to a sustainable future runway for growth."

More on Alliant Energy:

• Financial and valuation comparison to sector peers
• Analysis: Alliant Energy: Buy The Drop On This Great Dividend Stock
• Stock price return: Down 7% YTD, down 19% in the past 12 months

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