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 (NYSE: 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.
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