Spire price target lowered to $64 from $65 at Morgan Stanley

Morgan Stanley analyst David Arcaro lowered the firm’s price target on Spire to $64 from $65 and keeps an Equal Weight rating on the shares as part of the firm’s December edition of its “Monthly Meter Reading” note on Regulated & Diversified Utilities. Electric multiples were up less than 1% and multiples for gas utilities were down 3% since the firm last refreshed its price targets, the analyst noted.