Goldman Sachs Upgrades Ameren Corp. (AEE) to Neutral

Goldman Sachs upgraded Ameren Corp. (NYSE: AEE) from Sell to Neutral with a price target of $32 (up form $27).

The firm raised 2011/2012/2013 EPS forecasts from $2.41/$2.12/$1.85 to $2.59/$2.35/$2.18 to reflect "(1) O&M cost reductions, (2) revised and lower expected non-regulated capital spending through 2014 improving cash flows, (3) a positive impact of Illinois legislation on long-term potential returns there, (4) increased hedging levels at the merchant segment, and (5) positive benefits from a follow-on Missouri rate case implementation and increasing revenues by mid-2013."

For an analyst ratings summary and ratings history on Ameren Corp. click here. For more ratings news on Ameren Corp. click here.

Shares of Ameren Corp. closed at $32.45 yesterday.

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