Alliant Energy transferred with Market Perform at BMO Capital

BMO Capital analyst Edward DeArias kept a Market Perform rating on Alliant Energy (LNT) following a transfer of coverage. The firm expanded its utilities, power and renewables coverage to include the SMID-cap utilities subsector. In the current macroeconomic environment, the small- and mid-cap utilities “are stuck in the SMIDdle,” the analyst tells investors in a research note. BMO believes that given their profiles include a smaller regulated footprint and fewer regulatory jurisdictions, there can be more concentrated risk in these names.