Spire, the Utilities sector company, was revisited by a Wall Street analyst yesterday. Analyst Ross Fowler from Bank of America Securities maintained a Hold rating on the stock and has a $81.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Ross Fowler has given his Hold rating due to a combination of factors influencing Spire’s financial performance and strategic direction. The company’s third-quarter earnings per share exceeded expectations, showing improvement across various segments, including Gas Utility and Gas Marketing. However, these gains were somewhat offset by increased operational and maintenance costs, as well as depreciation expenses.
Additionally, Spire’s strategic acquisition of Piedmont Natural Gas and favorable regulatory developments, such as the Missouri rate case settlement, are expected to support long-term growth. Despite reaffirming its 2025 earnings guidance and increasing its capital expenditure plan, the company’s current valuation and market conditions suggest a cautious approach, leading to the Hold rating. This reflects a balanced view of potential growth opportunities against existing financial and operational challenges.
In another report released on July 25, Morgan Stanley also maintained a Hold rating on the stock with a $82.00 price target.