BTIG initiated coverage of Spire (SR) with a Buy rating and $99 price target The firm views utilities as a “demand growth story today” due to data centers and re-Industrialization in the U.S. as reshoring incentives and tariffs take hold. Despite being close to decade-plus stock highs, company valuations “look reasonable,” the analyst tells investors in a research note. BTIG sees valuations being supported by elevated growth and potential interest rate cuts. Its bullish view on the sector’s growth leads to more Buy ratings.
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Read More on SR:
- Spire price target raised to $93 from $83 at Mizuho
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- Spire price target raised to $95 from $80 at UBS
- Spire initiated with a Buy at Jefferies
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