Analyst Gabe Moreen from Mizuho Securities maintained a Buy rating on Spire and increased the price target to $96.00 from $93.00.
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Gabe Moreen has given his Buy rating due to a combination of factors that highlight Spire’s potential for growth and value. The company’s forward guidance for fiscal years 2026 and 2027 indicates a strong earnings growth trajectory, particularly with the integration of the Tennessee acquisition. This acquisition is expected to significantly contribute to the company’s earnings per share (EPS), with a projected midpoint of $5.75 for FY27, aligning with Moreen’s estimates and suggesting a robust compound annual growth rate.
Additionally, Moreen notes that while the market may have reacted negatively to the absence of a gas storage sale announcement, the underlying fundamentals remain strong. Spire’s strategic positioning, including potential midstream expansion and a focus on regulated gas utility operations, positions it well for future growth. The valuation appears attractive, with the potential for the company to achieve peer-average multiples as it demonstrates execution success. Consequently, Moreen has raised the price target to $96, reflecting confidence in Spire’s ability to meet and potentially exceed growth expectations.
In another report released on November 17, BTIG also reiterated a Buy rating on the stock with a $99.00 price target.