Analyst Alex Kania of BTIG reiterated a Buy rating on Spire, retaining the price target of $105.00.
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Alex Kania has given his Buy rating due to a combination of factors tied to Spire’s strategic shift and valuation. He views the divestiture of the gas marketing business at an attractive earnings multiple as a meaningful step toward a predominantly regulated utility model, supported further by the likely storage asset sale and the funding of the Piedmont Tennessee acquisition.
Although the marketing sale slightly trims the 2027 EPS outlook, Kania emphasizes that Spire still targets a 5%–7% long‑term earnings growth rate, with a higher-quality, fully regulated earnings mix that should justify a stronger valuation multiple over time. Using a sum‑of‑the‑parts framework on forward EPS and modest regional premiums to gas LDC peers, he arrives at a $105 price target and therefore reiterates a Buy recommendation on SR.