- Alliant Energy (LNT -0.4%) wobbles between modest gains and losses after Bank of America downgrades shares to Underperform from Neutral with a $60 price target, seeing limited upside ahead and risks skewed to the downside.
- Alliant ranks "among the lowest volatility premium utilities, but at current levels we see the modest upside... driven entirely by the dividend yield," BofA's Julien Dumoulin-Smith writes, adding that "with no major rate or resource proceedings, LNT is looking ahead at a year where the focus is execution and cost reductions."
- Noting a survey of employee rankings where Alliant rated among the lowest in the sector, Dumoulin-Smith says "difficulty with employee relations could drive worsening operating performance and potentially greater regulatory scrutiny over time... an element of risk given acute labor and other inflation across the U.S."
- Alliant Energy beat Q3 estimates for earnings and revenues while issuing FY 2022 earnings guidance.
Alliant Energy cut to Sell equivalent at BofA as shares get pricey
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Symbol | Last Price | % Chg |
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Alliant Energy Corporation |