Wells Fargo Upgrades Alliant Energy (LNT) to Outperform; Attractive Valuation

Wells Fargo upgraded Alliant Energy (NYSE: LNT) from Market Perform to Outperform, price target range $47-$48.

Wells analyst says, "We consider LNT to be a high quality regulated utility. Features include strong annual EPS growth prospects of 5-7%, constructive regulatory environments, manageable external equity financing needs and an attractive relative valuation. In addition, shares offer a 4.2% dividend yield. We consider the dividend to be secure with strong 5-yr annual growth prospects of 7-8%, which is well above the Regulated Electric utility average of 3-5%."

"We are modestly increasing our 13-15E EPS to $3.20, $3.35 & $3.55 from $3.15, $3.30 & $3.45. Our 12E remains $3.00."

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 $42.97 yesterday.

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