Alliant Energy downgraded to Market Perform from Outperform at BMO Capital

BMO Capital analyst James Thalacker downgraded Alliant Energy to Market Perform from Outperform with an unchanged price target of $55. The analyst still appreciates the “strong fundamentals” of the Alliant story over the long term, but going into 2024 sees better risk-adjusted opportunities within the “high-quality compounders bucket.” Other companies better represent these exposures following an in-line to slightly weaker-than-expected Wisconsin rate case outcome and an ongoing rate case in Iowa, the analyst tells investors in a research note.