Spire initiated with a Buy at UBS

UBS analyst William Appicelli initiated coverage of Spire with a Buy rating and $68 price target. The analyst sees the shares as undervalued. Spire can achieve 6.4% earnings growth through 2027, in the upper half of its 5%-7% long-term range, the analyst tells investors in a research note. The firm says the company’s growing midstream segment earnings will be driven by recent acquisitions and investments in natural gas storage.