Bank of America Merrill Lynch Neutral on Alliant Energy

Bank of America Merrill Lynch is out with a research report on Alliant Energy (NYSE: LNT) and it has a Neutral rating and a $43 price target on shares.

In a note to clients, Bank of America Merrill Lynch writes, "Alliant reported Q3 operating EPS of $1.10 vs. $1.31 last year, missing our $1.39 estimate and the $1.37 consensus. The shortfall was mainly due to losses at RMT (which were announced last week) and timing related to LNT's tax benefit rider in Iowa. Utility EPS was up $0.03 on weather offset by higher depreciation and capacity charges, while nonregulated EPS fell $0.30 on RMT and tax timing. Based on the tough Q3, LNT cut 2011 guidance to $2.73-$2.87 from $2.75-$3.00."

Shares of LNT gained 89 cents yesterday to close at $41.35.