BofA upgrades Alliant Energy to Buy on supportive Iowa decisions

BofA analyst Julien Dumoulin-Smith upgraded Alliant Energy to Buy from Neutral with a price target of $58, up from $55. Recent Iowa Utilities Board decisions in support of advance ratemaking for solar suggest an improvement in perception of the regulatory climate in that state that will drive re-rating in Alliant shares, the analyst tells investors in a research note.the analyst tells investors in a research note. The firm says Alliant trades at just a 3% premium to the utility sector on 2025 consensus earnings estimates, which suggests a “particularly attractive buying opportunity for what has historically been a premium stock.”