UPDATE: BofA Securities Upgrades Ameren Corp. (AEE) to Buy
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BofA Securities analyst Julien Dumoulin-Smith upgraded Ameren Corp. (NYSE: AEE) from Neutral to Buy with a price target of $89.00.
The analyst comments "Ameren’s service territory lies at the crossroads of the renewable rich midwest. Amidst investor interest in the grid reinvestment theme in recent weeks with pending infrastructure bill we flag AEE as a key thematic equity, with best leverage to this improving backdrop across utilities. We look for key updates this Fall around the MISO regions' annual MTEP process for new transmission enabled by renewable reinvestment - while sustaining its existing 6-8% EPS growth a further year; Latest proposals specifically proposes numerous large-scale 765kV projects through its territory as per latest MISO board presentations."
Shares of Ameren Corp. closed at $80.72 yesterday.
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