UBS analyst William Appicelli maintains $Spire (SR.US)$ with a buy rating, and adjusts the target price from $68 to $80.
According to TipRanks data, the analyst has a success rate of 66.7% and a total average return of 18.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Spire (SR.US)$'s main analysts recently are as follows:
Spire's FY24 outcomes were considered disappointing as the company fell short of its previously revised EPS guidance. Analysts feel that the challenges faced by Spire are largely manageable with improved cost controls. Furthermore, the supportive regulatory environment in Missouri is seen as advantageous for the company. Current market pricing is thought to excessively reflect risks to earnings growth, with upcoming developments in Missouri potentially serving as beneficial catalysts.
The company's 2024 EPS fell short of the guidance range. Nevertheless, the anticipated EPS growth of 5%-7% remains aligned with the original mid-point target for 2024, with management optimistic about returning to the expected range by 2026, contingent on a favorable rate case outcome in Missouri.
Shares of Spire have underperformed the broader utility group, primarily due to inconsistent execution. This was highlighted when the company reduced its FY24 adjusted EPS guidance during its fiscal Q3 update, following a previously lowered guidance at its Utility segment, which is its main regulated business. It is anticipated that the situation may deteriorate further before improving, with expectations for 'muted' FY25 guidance until a Spire Missouri rate case potentially stimulates growth in FY26.
Note:
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