TD Cowen analyst Shelby Tucker initiated coverage of Spire (SR) with a Hold rating and $101 price target The company’s recent strategic shift as well as improved regulation in Missouri should lead to strong regulated earnings growth post-2027, with minimal equity needs in the near term, the analyst tells investors in a research note. TD Cowen adds, however, that despite the company’s long-term accelerated earnings growth, its muted 2026 to 2027 earnings outlook is keeping the firm on the sidelines.
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