Fly News Breaks for February 24, 2020
Feb 24, 2020 | 08:27 EDT
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.
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