UPDATE: D.A. Davidson Reiterates Buy Rating, Lowers PT on Alliant Energy Corporation

In a report published Monday, D.A. Davidson & Co. reiterated its Buy rating on Alliant Energy Corporation LNT, but lowered its price target from $53.00 to $51.00. D.A. Davidson noted, “We are reducing our price target from $53 to $51 to reflect the recent multiple contraction across the industry. Our target equates to 16.3x our 2013 EPS estimate. We continue to believe Alliant's superior growth profile and favorable regulatory backdrop justify a modest premium valuation.” Alliant Energy Corporation closed on Friday at $43.70.