Ameren downgraded to Equal Weight on valuation at Barclays

Barclays downgraded Ameren (AEE) to Equal Weight from Overweight with a price target of $95, up from $88. The shares trade at an 11% price-to-earnings premium to the power and utilities group, with the valuation already reflecting Ameren’s earnings accelerating to the high end of the guided range, the analyst tells investors in a research note. The firm says the company has positive tailwinds, but that these are priced into the shares.