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Investing.com - BofA Securities raised its price target on Alliant Energy (NASDAQ:LNT), a $17.4 billion utility company with a stable 3% dividend yield, to $74.00 from $70.00 on Friday, while maintaining a Buy rating on the stock. According to InvestingPro data, the stock is trading near its 52-week high of $69.16, with notably low volatility (Beta: 0.54).
The price target increase comes as BofA Securities expects Alliant Energy to report third-quarter 2025 earnings per share of $1.17, which aligns with the current consensus estimate and represents a slight improvement from $1.15 in the third quarter of 2024. The company has demonstrated consistent financial performance, having raised its dividend for 21 consecutive years.
According to BofA Securities analyst Julien Dumoulin-Smith, the anticipated year-over-year earnings growth is primarily driven by higher revenue requirements at Interstate Power & Light (IPL) and Wisconsin Power & Light (WPL), the company’s two main utility subsidiaries.
These positive revenue factors are expected to be partially offset by several headwinds, including higher depreciation and amortization expenses, increased interest expenses, and losses related to the timing of taxes compared to the previous year.
BofA Securities maintained its Buy rating on Alliant Energy stock, suggesting continued confidence in the utility’s overall business performance despite the noted offsetting factors.
In other recent news, Alliant Energy has seen a series of adjustments in its stock price targets following its second-quarter earnings report. BofA Securities raised its price target to $70, citing strong quarterly results with adjusted operating earnings per share reaching $0.68, surpassing both consensus and BofA estimates of $0.64. Similarly, Mizuho increased its price target to $70, acknowledging the company’s performance which exceeded consensus estimates, while also reaffirming its 2025 EPS guidance range of $3.15-$3.25. BMO Capital also adjusted its price target to $68 after the earnings report showed a year-over-year increase of approximately 19% in earnings per share. Jefferies raised its price target to $74, highlighting growth in the data center sector and anticipating a revised guidance in the upcoming third-quarter earnings report. BMO Capital further raised its price target to $71, maintaining a Market Perform rating and expecting third-quarter results to align with projections. These developments reflect the company’s recent performance and strategic positioning as noted by various financial firms.
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