Spire: Missouri Is A 'Swing State' That Could Turn Performance From 'Mediocre To Marvelous'
Spire: Missouri Is A 'Swing State' That Could Turn Performance From 'Mediocre To Marvelous'
Last month Spire Inc (NYSE:SR) reported a higher-than-expected loss for its fiscal fourth quarter.
上个月，Spire Inc（纽约证券交易所代码：SR）报告称，其第四财季的亏损高于预期。
The current Street expectations do not fully reflect the company's 2025 rate case, which is likely to go into effect in early fiscal 2026, according to Mizuho Securities.
瑞穗证券称，华尔街目前的预期并未完全反映该公司2025年的利率方案，该利率可能在2026财年初生效。
Analyst Gabriel Moreen upgraded the rating on Friday for Spire from Neutral to Outperform, while raising the price target from $65 to $76.
分析师加布里埃尔·莫林周五将Spire的评级从中性上调至跑赢大盘，同时将目标股价从65美元上调至76美元。
The Spire Thesis: Investor sentiment for Spire Missouri could turn positive, as uncertainties reduce, Moreen said in the upgrade note.
尖塔论点：莫伦在升级说明中表示，随着不确定性的降低，投资者对密苏里尖塔的情绪可能会转为乐观。
Check out other analyst stock ratings.
查看其他分析师的股票评级。
"Although the relationship between Spire Missouri and its regulators has experienced periodic volatility, we believe there are reasons for a constructive case outcome," he added.
他补充说：“尽管Spire Missouri与其监管机构之间的关系周期性波动，但我们认为有理由得出建设性的案例结果。”
Spire Missouri, which accounts for around 45% of Spire's total operating income, delivered significantly lower returns from fiscal 2022 to 2024 than it had averaged over the preceding three years, the analyst stated. Even if the subsidiary earns around 8.1%, which is still below the average, "it would rebase Missouri growth to a y/y +30% net income increase into FY26," he further noted.
该分析师表示，密苏里尖塔约占Spire总营业收入的45％，从2022财年到2024财年，其回报率明显低于前三年的平均水平。他进一步指出，即使该子公司的收入约为8.1％，仍低于平均水平，“它将把密苏里州的增长调整为26财年的净收入同比增长30％。”
With this, Spire's target of 5%-7% CAGR (compounded annual growth rate) "could finally prove sustainable and narrow the expanding valuation gap between SR and its LDC peers," Moreen added.
莫林补充说，有鉴于此，Spire设定的5％-7％的复合年增长率（复合年增长率）的目标 “最终可以证明是可持续的，并缩小SR与最不发达国家同行之间不断扩大的估值差距。”
SR Price Action: Shares of Spire remained broadly flat at around $66.69at the time of publication on Monday.
SR价格走势：周一发布时，Spire的股价基本持平，约为66.69美元。
Read More: These 3 Utilities Stocks Delivering High-Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts
阅读更多：华尔街最准确的分析师推荐了这三只提供高股息收益率的公用事业股
Photo courtesy Spire, Inc.
照片由 Spire, Inc. 提供
