BMO Capital lowered the firm’s price target on Ameren to $80 from $81 and keeps an Outperform rating on the shares. The ICC order rehearing of Ameren Illinois’ MYRP proceeding which upwardly revised its ratebase for the 2024-2027 test years, including a 2024 level of $4.0B compared to a previously authorized $3.9B based on the last approved 2022 ratebase, is “neutral” to 2024 earnings given the company’s guidance parameters, the analyst tells investors in a research note. BMO adds that its price target change for Ameren reflects its mark-to-market adjustment.
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