LNT - Alliant Energy upped at Guggenheim after Wisconsin PSC 'damage control'

Alliant Energy ( NASDAQ: LNT ) on Tuesday was upgraded to Neutral from Sell with a $52 price target, raised from $46, at Guggenheim following recent "constructive" conversations with Wisconsin Public Service Commission Chair Valcq and member Huebner in the state's impending general rate case.

Guggenheim's Shahriar Pourreza had been concerned about a potential degradation of the regulatory environment in the state coming off the "choppy" December resolution of WEC Energy's ( WEC ) general rate case, which he believed could portend challenges for Wisconsin Power and Light's impending GRC.

"Our conversations have provided additional nuance to that backdrop and assuaged several of our key concerns, especially around the acceptability of settlements and the adherence of Staff and Commissioners to the letter of the law," Pourreza wrote.

Alliant's ( LNT ) "top-tier rate base growth and best-in-class management team remain highly attractive... with the forthcoming case process providing a potential podium to further revisit our thesis in the coming quarters," according to Pourreza.

Buy blue-chip Alliant Energy ( LNT ) for growing passive income and strong returns, Kody's Dividends writes in an analysis published on Seeking Alpha .

For further details see: