Wells Fargo analyst Neil Kalton raised his price target for Alliant Energy to $65 from $59 saying it has "hit the ground running" in 2020. While management affirmed 2020 EPS guidance, they noted that earnings are trending toward the upper half of the range due, in part, to the positive impact of lower interest rates on pension costs and interest expense, the analyst notes. Kalton thinks the premium valuation is well-deserved given a number of positive characteristics that he thinks set Alliant Energy apart from peers, including supportive regulatory environments, limited new equity needs and a highly visible capex runway that supports a 6% EPS CAGR beyond 2022. He reiterates an Overweight rating on the shares.

Barclays lowered the firm's price target on Alliant Energy to $52 from $53 and keeps an Equal Weight rating on the shares as part of a Q1 preview for the utilities group. The analyst expects weaker quarter results for the sector due to "underwhelming" weather to start the year. However, the firm does not see many companies trending lower in the fiscal 2024 earnings range.