Jefferies initiates coverage on Spire with 'buy' rating
07/10/2025 12:45
** Jefferies initiates coverage on utility company Spire SR.N with "buy" rating, PT at $92
** New PT an upside of 12.9% from the stocks last close
** Jefferies says co is entering a new phase of growth as Missouri's updated rules and rate changes improve earnings visibility and reduce regulatory delays
** Notes co's Tennessee acquisition marks a strategic shift toward stable, regulated growth, with earnings benefits expected to build over time
** Brokerage sees long-term growth for Spire from rising gas demand in Missouri, driven by power shifts and data center expansion
** Three of eight brokerages rate the stock "buy" or higher, four "hold" and one "sell"; their median PT is $80.50 - data compiled by LSEG
** As of last close, stock has risen 20.1% YTD
(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))