Spire price target raised to $80 from $75 at UBS

UBS raised the firm’s price target on Spire (SR) to $80 from $75 and keeps a Buy rating on the shares. UBS views Spire’s FY24 results as disappointing as the company missed the EPS guidance range that was already lowered on the Q3 call, but the firm sees much of the headwinds that Spire is facing as addressable through better cost management and believes the company should benefit from a supportive regulatory jurisdiction in Missouri, the analyst tells investors in a research note. The stock continues to overly discount risks to achieving its earnings growth and the upcoming events in Missouri could be potential positive catalysts, UBS says.