Guggenheim upgrades Alliant Energy to Neutral with Wisconsin overhang clearing

As previously reported, Guggenheim upgraded Alliant Energy to Neutral from Sell with a price target of $52, up from $46, following recent "constructive conversations" with Wisconsin PSC Chairperson Valcq and Commissioner Huebner. The firm’s previous negative stance on shares in the new year had been predicated on a potential degradation of the regulatory construct in Wisconsin, but its conversations have "provided additional nuance to that backdrop and assuaged several of our key concerns," the analyst tells investors. Alliant’s "top-tier rate base growth and best-in-class management team remain highly attractive," added the firm, which thinks the forthcoming case process could result in it further revisiting its thesis in the coming quarters.