** Shares of natural gas company Spire rise as much as 2.2% to $67
** Brokerage Mizuho Securities upgrades stock to "outperform" from "neutral", raises PT to $76 from $65
** Brokerage says that Wall Street has not yet factored in the impact of a pending rate case for SR, with its effects expected to commence in early fiscal year 2026
** SR subsidiary Spire Missouri, in late November, filed a rate case with Missouri Public Service Commission to change rates of its utility products
** Although it is in early days, the case has the potential to correct company's severe underearning in recent years by addressing ineffective weather normalization mechanisms and costs of capital - brokerage
** Mizuho Securities has a positive outlook due to the appointment of a new Chair at the PSC, the possibility of lower customer bills due to decreased gas costs and favourable outcomes at peer Missouri utilities
** Two of eleven brokerages rate the stock "buy", eight "hold" and one "strong sell"; with a median PT of $73
** Including session moves, stock up 6.5% YTD
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.