Spire price target lowered to $65 from $66 at RBC Capital

RBC Capital lowered the firm’s price target on Spire to $65 from $66 and keeps a Sector Perform rating on the shares. The company is entering 2024 in a slightly better position than 2023 with interest rates moderating and inflationary costs in O&M beginning to subside, but its earned ROE gap “remains stubbornly wide”, the analyst tells investors in a research note.