Ameren Corp. (AEE) PT Raised to $81 at BMO Capital

BMO Capital analyst James Thalacker raised the price target on Ameren Corp. (NYSE: AEE) to $81.00 (from $79.00) while maintaining a Outperform rating.

The analyst commented, "AEE reported 1Q24 EPS of $0.98, which came in well below our $1.12 estimate and consensus estimate of $1.07. Year-over-year results were down ($0.02). Management reaffirmed its 2024 guidance range of $4.52-$4.72 ($4.62 midpoint) versus $4.62 consensus and our estimate of $4.62. The company reaffirmed its 5-year capital plan of $21.9bn, representing an ~8.2% rate base growth CAGR over 2023-2028 that underpins 6-8% EPS growth. We maintain our Outperform rating with our target price moving up to $81 as we MTM our peer group multiples used in our SOTP framework."

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