Argus raised the firm’s price target on Ameren (AEE) to $115 from $108 and keeps a Buy rating on the shares. The firm is citing the stock’s recent momentum and believes that can continues due to solid fundamentals and sector rotation, the analyst tells investors in a research note. Argus adds that Ameren’s region demographics are improving and that its management projects 8% compound annual growth in the company’s rate base through 2028.
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