Goldman Sachs analyst Carly Davenport upgraded Ameren (AEE) to Neutral from Sell with a price target of $100, up from $91, ahead of the Q2 report. The firm cites a more positive fundamental views on the stock as opportunities in the company’s Missouri service territory “become increasingly compelling” due to legislative developments in the state for the upgrade. Further, the analyst has waning concern that the macro environment will materially shift the opportunities baked into the plan. It believes improvements in Missouri will continue to outweigh Ameren’s “unfavorable” Illinois exposure.
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