D.A. Davidson Maintains ALLETE Neutral, $42.50 PT

D.A. Davidson maintained its ALLETE

Neutral rating and $42.50 price target in a research report published today. In the report, D.A. Davidson stated, "ALLETE posted breakeven results from non-regulated activities in the quarter, improving from last year's loss of $0.03, due largely to tax credits in North Dakota and improved results at BNI Coal. These improvements were partially offset by start-up costs of ALLETE Clean Energy and ongoing losses at ALLETE Properties, which remains on the sales block." Later in the report, D.A. Davidson noted, "We are impressed by ALLETE's multi-year, multi-faceted growth opportunities." Shares of ALLETE closed today at $40.67, down 1.17% from Tuesday's market close.