Alliant Energy rises on BofA upgrade after Iowa ratemaking approval

Alliant Energy

26/06/2023 11:42

** Shares of utility firm Alliant Energy  LNT.O  up 1.4% at
$52.57 premarket
    ** Brokerage BofA upgrades stock to "buy" from "neutral",
raises PT to $58 from $55
    ** New PT represents an 11.9% upside to stock's last close
    ** Iowa Utilities Board's approval of LNT's petition for
advance ratemaking, a formal regulatory process to set the price
a utility charges its customers, is an incremental positive sign
for company, says brokerage
    ** Order is constructive for future renewable build in Iowa
- BofA
    ** Of the 12 brokerages tracking stock, 4 rate "buy" or
higher, 8 "hold"; median PT is $56 - Refinitiv
    ** Up to last close, stock down 6.1% YTD

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))