UPDATE: Wunderlich Securities Raises PT to $47 on Alliant Energy Corporation

Wunderlich Securities reiterates its Buy rating on Alliant Energy Corporation (NYSE: LNT and raises its price target $2 to $47 on valuation opportunity suggested by 10-K. Wunderlich Securities says, "After a detailed review of Alliant Energy's (

) 10-K and an update of our financial forecast, we continue to see opportunity in LNT's discount valuation. With over 7% annual EPS growth forecast through 2014 and limited regulatory risk resulting from expiring nuclear purchase power contracts, we believe LNT should trade at a sector average multiple and trend toward a modest premium. The transition from purchased nuclear power to owned gas-fired power generation will drive earnings growth with limited regulatory risk (limited need for rate increases resulting from declining capacity payments)." LNT closed at $42.80 a share yesterday.