ALLETE, Inc. (ALE)

ALLETE Stock Forecast

Stock Price Forecast

The 4 analysts with 12-month price forecasts for ALLETE stock have an average target of 62, with a low estimate of 58 and a high estimate of 67. The average target predicts a decrease of -3.88% from the current stock price of 64.50.

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$58	$62	$64	$67
Change	-10.08%	-3.88%	-0.78%	+3.88%

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

Analyst Ratings

The average analyst rating for ALLETE stock from 4 stock analysts is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Jul '24	Aug '24	Sep '24	Oct '24	Nov '24	Dec '24
Strong Buy	0	0	0	0	0	0
Buy	0	0	0	0	0	0
Hold	4	4	4	4	4	4
Sell	1	1	1	1	1	0
Strong Sell	0	0	0	0	0	0
Total	5	5	5	5	5	4

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Anthony Crowdell Mizuho	Mizuho	Hold Maintains $57 → $67	Hold	Maintains	$57 → $67	+3.88%	May 16, 2024
Sarah Akers Wells Fargo	Wells Fargo	Hold Maintains $57 → $59	Hold	Maintains	$57 → $59	-8.53%	Feb 21, 2024
Shahriar Pourreza Guggenheim	Guggenheim	Strong Sell → Hold Upgrades $58	Strong Sell → Hold	Upgrades	$58	-10.08%	Jan 22, 2024
Brian Russo Sidoti & Co.	Sidoti & Co.	Strong Buy → Hold Downgrades $64	Strong Buy → Hold	Downgrades	$64	-0.78%	Jan 10, 2024
Anthony Crowdell Mizuho	Mizuho	Hold Maintains $64 → $58	Hold	Maintains	$64 → $58	-10.08%	Jul 21, 2023

More Analyst Ratings

Financial Forecast

Revenue This Year

1.58B

Decreased by -15.95%

from 1.88B

Revenue Next Year

1.76B

Increased by 11.39%

from 1.58B

EPS This Year

3.77

Decreased by -12.27%

from 4.30

EPS Next Year

4.03

Increased by 6.77%

from 3.77

Fiscal Year	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	1.24B	1.17B	1.42B	1.57B	1.88B	1.58B	1.76B	1.86B
Revenue Growth	-17.22%	-5.76%	21.39%	10.68%	19.68%	-15.95%	11.39%	5.40%
EPS	3.59	3.18	3.23	3.38	4.30	3.77	4.03	4.41
EPS Growth	6.21%	-11.42%	1.54%	4.68%	27.22%	-12.27%	6.77%	9.38%
Forward PE	-	-	-	-	-	17.10	16.01	14.64
No. Analysts	-	-	-	-	-	7	7	6

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	1.7B	2.1B	2.1B
Avg	1.6B	1.8B	1.9B
Low	1.5B	1.6B	1.7B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	-12.2%	30.8%	20.6%
Avg	-15.9%	11.4%	5.4%
Low	-18.9%	0.4%	-4.3%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	3.94	4.44	4.85
Avg	3.77	4.03	4.41
Low	3.62	3.64	4.11

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	-8.4%	17.7%	20.4%
Avg	-12.3%	6.8%	9.4%
Low	-15.9%	-3.6%	1.9%

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.