Ladenburg analyst Paul Fremont upgraded Alliant Energy to Buy from Neutral with a price target of $62.50, up from $50. The analyst cites potential earning upside from the company’s Iowa settlement as well as data center growth for the upgrade. Under the terms of the agreement, Interstate Power will be able to retain revenues and tax credits associated with data center load over the next five years subject to approval of the Iowa Utilities Board, the analyst tells investors in a research note. The firm says the settlement “opens the door to significant capital spending additions” currently not in Alliant’s capex forecast.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LNT:
- Alliant Energy price target raised to $58 from $53 at Scotiabank
- Alliant Energy price target raised to $60 from $58 at BMO Capital
- Alliant Energy price target raised to $62 from $56 at Wells Fargo
- Alliant Energy backs FY24 EPS view $2.99-$3.13, consensus $3.06
- Alliant Energy reports Q2 adjusted EPS $1.18 vs $1.28 last year
Questions or Comments about the article? Write to editor@tipranks.com