Wells Fargo initiated coverage of Alliant Energy (LNT) with an Overweight rating and $71 price target The company currently trades at a 7% premium to peers, which is justified given its number of tailwinds, the analyst tells investors in a research note. Wells believes Alliant’s premium valuation could increase as data center load continues to materialize. Wisconsin and Iowa have emerged as “hot spots” for data center developments which supports a constructive thesis on the Alliant Energy story, contends Wells.
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