UPDATE: Mizuho Securities Upgrades Alliant Energy (LNT) to Buy
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Mizuho Securities analyst Anthony Crowdell upgraded Alliant Energy (NASDAQ: LNT) from Neutral to Buy with a price target of $61.00 (from $50.00).
The analyst comments "We are raising our rating to Buy and increasing our PT to $61 as we increase our EPS growth rate estimate to 6.8% through 2023. Higher earnings from the company's planned solar generation investments and cost savings opportunity from coal plant closures will result in earnings growth near the top-end of its 5% to 7% EPS target, in our view. LNT recently announced plans for a settlement in Wisconsin that accounts for the new 1,089MW of solar generation entering service in 2022 and 2023. The company also plans to add 400MW of regulated solar in Iowa over the same period."
Shares of Alliant Energy closed at $56.48 yesterday.
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