ALLETE, Inc. (ALE)

ALLETE Stock Forecast

Stock Price Forecast

The 1 analyst with a 12-month price forecast for ALLETE stock has a target of 67, which predicts an increase of 2.82% from the current stock price of 65.16.

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$67	$67	$67	$67
Change	+2.82%	+2.82%	+2.82%	+2.82%

* Price targets were last updated on May 16, 2024.

Analyst Ratings

According to 1 stock analyst, the rating for ALLETE is "Hold". This means that the analyst believes this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Dec '23	Jan '24	Feb '24	Mar '24	Apr '24	May '24
Strong Buy	1	0	0	0	0	0
Buy	0	0	0	0	0	0
Hold	5	4	4	4	4	1
Sell	1	1	1	1	1	0
Strong Sell	1	0	0	0	0	0
Total	8	5	5	5	5	1

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Anthony Crowdell Mizuho	Mizuho	Hold Maintains $57 → $67	Hold	Maintains	$57 → $67	+2.82%	May 16, 2024
Sarah Akers Wells Fargo	Wells Fargo	Hold Maintains $57 → $59	Hold	Maintains	$57 → $59	-9.45%	Feb 21, 2024
Shahriar Pourreza Guggenheim	Guggenheim	Strong Sell → Hold Upgrades $58	Strong Sell → Hold	Upgrades	$58	-10.99%	Jan 22, 2024
Brian Russo Sidoti & Co.	Sidoti & Co.	Strong Buy → Hold Downgrades $64	Strong Buy → Hold	Downgrades	$64	-1.78%	Jan 10, 2024
Anthony Crowdell Mizuho	Mizuho	Hold Maintains $64 → $58	Hold	Maintains	$64 → $58	-10.99%	Jul 21, 2023

More Analyst Ratings

Financial Forecast

Revenue This Year

1.56B

Increased by 2.24%

from 1.53B

Revenue Next Year

1.65B

Increased by 5.63%

from 1.56B

EPS This Year

3.86

Increased by 24.68%

from 3.10

EPS Next Year

4.26

Increased by 10.19%

from 3.86

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026	FY 2027
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026	Dec 31, 2027
Revenue	1.17B	1.42B	1.57B	1.88B	1.53B	1.56B	1.65B	1.78B
Revenue Growth	-5.76%	21.39%	10.68%	19.68%	-18.62%	2.24%	5.63%	7.57%
EPS	3.18	3.23	3.38	4.30	3.10	3.86	4.26	4.73
EPS Growth	-11.42%	1.54%	4.68%	27.22%	-27.91%	24.68%	10.19%	10.99%
Forward PE	-	-	-	-	-	16.86	15.30	13.79
No. Analysts	-	-	-	-	-	4	4	2

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2025	2026	2027	2028	2029
High	1.6B	1.7B	1.8B
Avg	1.6B	1.7B	1.8B
Low	1.5B	1.6B	1.7B

Revenue Growth

Revenue Growth	2025	2026	2027	2028	2029
High	6.3%	9.8%	11.8%
Avg	2.2%	5.6%	7.6%
Low	-0.8%	2.5%	4.4%

EPS Forecast

EPS	2025	2026	2027	2028	2029
High	4.20	4.57	4.91
Avg	3.86	4.26	4.73
Low	3.51	4.00	4.59

EPS Growth

EPS Growth	2025	2026	2027	2028	2029
High	35.5%	18.2%	15.4%
Avg	24.7%	10.2%	11.0%
Low	13.2%	3.5%	7.7%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.