BMO Capital analyst James M. Thalacker lowered the price target on Ameren Corp. (NYSE: AEE) to $113.00 (from $119.00) while maintaining an Outperform rating.

The analyst commented: "Our 3Q26E EPS estimate of $2.31, is in line with FactSet/Bloomberg median consensus of $2.29/$2.29, but up 6.5% YoY aided by positive weather. We believe management is in a position to raise its long-term EPS CAGR to 7-9% and initiate a 2027 guidance range of $5.70-5.90 +8.4% midpoint to midpoint. This step-up is underpinned by an IRP-driven $38.5-40.0bn+ capital plan (~11.6% 2026-2031 rate base CAGR); the sustainability of which could be further strengthened by a positive update on AEE's ~5GW pipeline of Missouri projects with completed interconnection studies. Reiterate Outperform."