UPDATE: Macquarie Capital Reiterates on Alliant Energy Following Management Meeting

In a report published Tuesday, Macquarie Capital analyst Andrew Weisel reiterated an Outperform rating on Alliant Energy (NYSE: LNT), and raised the price target from $54.00 to $56.00.

In the report, Macquarie Capital noted, “LNT's management continues to impress us, delivering results while simplifying the low-risk growth story. In just the past week, the company issued better than expected '13/'14 earnings guidance, nicely boosted the dividend, accelerated/upsized capex plans, quantified equity needs, received tentative approval for the new IA gas plant, and introduced plans for new generation in WI that should continue the rate base growth through the end of the decade. We continue to believe LNT should trade at a premium PE multiple vs peers. With higher earnings and improved visibility we increase our TP to US$56 and reiterate our Outperform rating.”

Alliant Energy closed on Monday at $52.92.