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On Tuesday, Guggenheim Securities adjusted its outlook on Spire Inc (NYSE:SR) by increasing the stock’s price target to $72 from the previous $67, while maintaining a Neutral stance on the company’s shares. The decision followed a non-deal roadshow (NDR), which painted a positive picture of Spire’s operations and potential. Currently trading at $78.25, Spire’s stock has demonstrated remarkable strength with a 34% return over the past year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with analyst targets ranging from $69 to $85.
Spire’s recent non-deal roadshow revealed several key points that contributed to Guggenheim’s revised price target. The roadshow underscored Missouri as a premium jurisdiction, the progress of a de-risked rate case proceeding, and a conservative plan that still allows for upside opportunities. Additionally, Spire is expected to provide updates on guidance following regulatory events later in 2025. The company’s strong financial position is evidenced by its impressive dividend track record, having raised dividends for 21 consecutive years and maintained payments for 55 years straight.
Despite the positive feedback from the NDR and the subsequent increase in the price target, Guggenheim analysts cited that they had previously missed an optimal entry point into Spire’s stock. The shares have outperformed the index by approximately 9%, leading the analysts to suggest that they are looking for a better entry point in the future, following the constructive insights from the NDR.
Guggenheim’s updated price target reflects a $5 increase per share, indicating a level of confidence in Spire’s ongoing business strategies and market position. However, the Neutral rating suggests that the firm’s analysts are recommending a wait-and-see approach before making further investment decisions regarding Spire stock.
Spire Inc, a public utility company, continues to navigate the regulatory landscape and market conditions, striving to deliver shareholder value while managing operational risks. The company’s performance, as well as upcoming regulatory decisions, will be closely watched by investors and analysts alike.
In other recent news, Spire Inc. has seen several significant developments impacting its financial and operational outlook. JPMorgan has upgraded Spire’s stock rating from ’Neutral’ to ’Overweight,’ raising the price target to $85.00. This upgrade is attributed to favorable regulatory changes in Missouri and the passage of SB4 legislation, which are expected to enhance Spire’s earnings potential. Similarly, Mizuho (NYSE:MFG) Securities has increased Spire’s price target to $82.00, maintaining an ’Outperform’ rating, citing positive progress in Missouri’s rate case and potential benefits from cold weather patterns on the company’s gas marketing business.
Ladenburg Thalmann has also upgraded Spire’s stock to ’Buy,’ setting a new price target of $83.00. The firm points to recent legislative advancements and resolved whistleblower concerns as factors contributing to an improved return on equity for Spire. Additionally, Spire has announced that CEO Steven L. Lindsey will resume his duties on February 10, 2025, following a health-related leave of absence. During his absence, Scott E. Doyle has been handling Lindsey’s responsibilities and will continue as Executive Vice President and Chief Operating Officer upon Lindsey’s return.
These developments indicate a period of strategic and financial optimism for Spire, with analysts expressing confidence in the company’s future performance. Investors will be keenly observing how these changes impact Spire’s operations and financial results in the coming months.
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