KeyBanc Starts Allete (ALE) at Buy
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Price: $49.60 -0.34%
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade ALE Now!
KeyBanc initiates coverage on Allete (NYSE: ALE) with a Buy. PT $42.00.
The firm comments, "Our 2012 and 2013 earnings estimates are $2.55 and $2.70, respectively. This growth of nearly 6% is driven by a combination of new investment earning a return through constructive regulatory mechanisms and growth of load in ALE's customer base centered on minerals mining; partially offset by higher costs from the issuance of new shares. We believe an attractive combination of further organic growth opportunities, potential regulated investment and constructive ratemaking warrant a premium valuation."
For an analyst ratings summary and ratings history on Allete click here. For more ratings news on Allete click here.
Shares of Allete closed at $39.41 yesterday, with a 52 week range of $37.73-$42.66.
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The firm comments, "Our 2012 and 2013 earnings estimates are $2.55 and $2.70, respectively. This growth of nearly 6% is driven by a combination of new investment earning a return through constructive regulatory mechanisms and growth of load in ALE's customer base centered on minerals mining; partially offset by higher costs from the issuance of new shares. We believe an attractive combination of further organic growth opportunities, potential regulated investment and constructive ratemaking warrant a premium valuation."
For an analyst ratings summary and ratings history on Allete click here. For more ratings news on Allete click here.
Shares of Allete closed at $39.41 yesterday, with a 52 week range of $37.73-$42.66.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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