Analyst Ross Fowler from Bank of America Securities reiterated a Buy rating on Alliant Energy and increased the price target to $70.00 from $68.00.
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Ross Fowler has given his Buy rating due to a combination of factors that highlight Alliant Energy’s strong financial performance and strategic flexibility. The company reported a significant year-over-year increase in its adjusted operating EPS for Q2, surpassing both consensus and Bank of America’s estimates. This growth was driven by higher revenue from an increasing rate base and elevated retail sales, despite facing higher depreciation and financing costs. Additionally, Alliant Energy has maintained its guidance for future earnings per share and long-term growth, which reflects confidence in its financial outlook.
Furthermore, the company’s strategic flexibility was emphasized during its Q2 call, where management expressed confidence in navigating uncertainties by aligning capital expenditures with rate base growth. This strategy allows Alliant Energy to capitalize on load growth while addressing affordability and reliability concerns. The constructive staff testimony in the Wisconsin Power & Light rate case also supports the likelihood of a favorable settlement, which could further enhance the company’s financial position. Consequently, Ross Fowler increased the price objective for Alliant Energy, reinforcing the Buy rating.
According to TipRanks, Fowler is a 4-star analyst with an average return of 6.8% and a 65.18% success rate. Fowler covers the Utilities sector, focusing on stocks such as Alliant Energy, Eversource Energy, and Centerpoint Energy.
In another report released on August 11, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $76.00 price target.