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.
上個月Spire Inc（紐交所：SR）報告了高於預期的財政第四季度虧損。
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.
根據瑞穗證券的說法，目前市場的預期並未完全反映出該公司2025年的費率案例，該案例預計將在2026財政年度初期生效。
Analyst Gabriel Moreen upgraded the rating on Friday for Spire from Neutral to Outperform, while raising the price target from $65 to $76.
分析師加布裏埃爾·莫林在週五將Spire的評級從中立上調至跑贏大盤，同時將目標價從65美元提高到76美元。
The Spire Thesis: Investor sentiment for Spire Missouri could turn positive, as uncertainties reduce, Moreen said in the upgrade note.
Spire的論點：隨着不確定性減少，Spire Missouri的投資者情緒可能轉爲積極，莫林在評級上調的說明中提到。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
"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.
「儘管Spire Missouri與其監管機構之間的關係經歷了週期性的波動，但我們認爲有理由相信結果會是有利的，」他補充道。
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.
分析師指出，Spire Missouri約佔Spire總營業收入的45%，在2022到2024財政年度的回報顯著低於過去三年的平均水平。即使該子公司獲得約8.1%的收益，這仍低於平均水平，「這將使Missouri的增長重置爲FY26的同比+30%凈利潤增長，」他進一步指出。
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.
由此，Spire的目標是5%-7%的年複合增長率「可能最終證明是可持續的，並縮小SR與其地方_distribution公司同行之間不斷擴大的估值差距，」莫林補充道。
SR Price Action: Shares of Spire remained broadly flat at around $66.69at the time of publication on Monday.
SR價格走勢：在週一發佈時，Spire的股票大致保持在約66.69美元的水平。
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Photo courtesy Spire, Inc.
圖片由Spire, Inc.提供。
