UPDATE: Macquarie Downgrades Alliant Energy (LNT) to Neutral

Macquarie downgraded Alliant Energy (NYSE: LNT) from Outperform to Neutral with a price target of $37.00 (from $42.00).

Analyst James Ward comments "Following minor adjustments to rate base assumptions, we have slightly lowered our ‘19 EPS estimate to US$2.23 from US$2.27. No change to our in line ’16-’18 EPS estimates. We have rolled forward our valuations to 2019, however, and lowered our anchor multiple to 16.0x from 17.9x. Applying a 5% premium over peers, we value LNT at US$37, down from US$42, previously."

For an analyst ratings summary and ratings history on Alliant Energy click here. For more ratings news on Alliant Energy click here.

Shares of Alliant Energy closed at $37.03 yesterday.

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