Alliant Energy price target raised to $81 from $78 at BMO Capital

BMO Capital analyst Edward DeArias raised the firm’s price target on Alliant Energy (LNT) to $81 from $78 and keeps an Outperform rating on the shares after its Q1 earnings beat. The quarterly results took a back seat to the company’s incremental announcements however, including a new 370MWs ESA – electric service agreement – in Iowa, the analyst tells investors in a research note. With the potential for additional large load announcements and other changes in MISO accreditation driving the need for incremental capital, BMO sees the company headed for a robust Q3 update, the firm added.