According to Wunderlich Securities, Alliant Energy LNT price target is lowered.
Wunderlich Securities reported that it is reducing its 2013 EPS estimate for Alliant Energy (LNT) to $3.07 from $3.12 previously. “The reduction stems from some fine-tuning of our 2013 acquisition analysis of the Riverside power plant (previously published on March 14). Our revised 2013 EPS estimate remains below consensus. As investors digest a flatter earnings outlook for 2012, and hence lower EPS expectations, we believe the stock will stagnate on an absolute basis. Using a 12.4 average sector P/E multiple for 2013, we are revising our target price to $38 from $39 previously. We maintain our Hold rating on LNT. Our 2011 and 2012 EPS estimates are going up slightly to reflect lower capital costs.”
Alliant Energy closed yesterday at $38.67.
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