UPDATE: Wunderlich Maintains Hold on Alliant Energy
Wunderlich is out with its report today on Alliant Energy (NYSE: LNT), maintaining Hold.
In its report, Wunderlich writes, "Alliant Energy announced on Monday that it would incur a $0.09 per share loss in 3Q11 results for higher costs at its unregulated RMT business. RMT is an engineering and construction company focused on renewables (wind and solar). LNT suggested that in 3Q a sub-contractor for RMT ceased to perform solar construction activities as contracted. LNT has hired a replacement contractor and is pursuing litigation against the other company. Higher costs are resulting from the situation, which will negatively impact 3Q11 and 2011 results. We are reducing our 2011 EPS estimate to $2.95, but the announcement casts yet another uncertainty on 2012 EPS. We maintain our Hold rating on LNT shares."
Wunderlich maintains a $40 PT on LNT.
Shares of LNT closed Monday at $41.77, up 0.87% from Friday's close.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.