Ameren price target lowered to $111 from $112 at Wells Fargo

Wells Fargo lowered the firm’s price target on Ameren (AEE) to $111 from $112 and keeps an Overweight rating on the shares. The firm says Ameren’s large load tariff unlocks DC growth opportunities, and notes there’s potential that growth is reflected in Ameren’s Q4 call roll forward. Wells believes it remains a premium beat and higher rebase story.