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Investing.com - BofA Securities has raised its price target on Alliant Energy (NASDAQ:LNT) to $70.00 from $68.00 while maintaining a Buy rating on the stock. The utility company, with a market capitalization of $16.8 billion, has seen its stock rise 13.3% year-to-date and is currently trading near its 52-week high.
The price target increase follows Alliant Energy’s second-quarter results, which showed adjusted operating earnings per share of $0.68, compared to $0.54 in the same period last year, exceeding both consensus and BofA estimates of $0.64 per share. According to InvestingPro, the company trades at a P/E ratio of 20.1 and offers a dividend yield of 3.11%.
The utility company benefited from higher revenue requirements due to increasing rate base and higher retail sales attributed to temperature factors, according to BofA Securities analyst notes.
These positive factors were partially offset by higher depreciation costs, increased financing expenses, and other expenses during the quarter.
Alliant Energy has reaffirmed its full-year 2025 guidance of $3.15-$3.25 per share and maintained its long-term earnings per share compound annual growth rate target of 5-7%.
In other recent news, Alliant Energy reported second-quarter 2025 earnings per share (EPS) of $0.68, surpassing the consensus estimate of $0.64. Despite this earnings beat, the company’s revenue fell short, recording $961 million against a forecast of $985.15 million. Following these results, several financial firms adjusted their price targets for Alliant Energy. Mizuho increased its price target to $70, citing growth in the data center sector, while maintaining a Neutral rating. BMO Capital raised its price target to $68, noting the company’s 19% year-over-year earnings growth and maintaining a Market Perform rating. Wolfe Research also adjusted its price target to $72, highlighting Alliant Energy’s significant role in the regulated renewables sector, although they maintained an Underperform rating. These developments reflect the company’s performance and position in the utility and renewables market.
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