Ameren price target raised to $120 from $112 at BMO Capital

BMO Capital raised the firm’s price target on Ameren (AEE) to $120 from $112 and keeps an Outperform rating on the shares. The company’s robust 21% capital plan increase revision added about 140bps to the rate base growth, and Ameren already has significant visibility on upside drivers that could take the company above the top of its long-term EPS growth target, the analyst tells investors in a research note.