Allete price target lowered to $64 from $66 at Mizuho

Mizuho analyst Anthony Crowdell lowered the firm’s price target on Allete to $64 from $66 and keeps a Neutral rating on the shares after the Minnesota Public Utilities Commission ruled on the Minnesota Power rate case. The decision underscores the ongoing regulatory trend around the country as regulators prioritize customer affordability and push back against bill increases, the analyst tells investors in a research note.