KeyBanc downgraded Ameren (AEE) to Sector Weight from Overweight without a price target as part of its 2026 outlook for the utilities group. The firm is concerned about the lack of major hyperscaler announcements in Missouri. While the state screens attractive as a data center destination territory, the developments on the ground are slow to emerge, the analyst tells investors in a research note. As such, KeyBanc is taking a more cautious stance on Ameren.
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