Ameren price target raised to $98 from $93 at BMO Capital

BMO Capital raised the firm’s price target on Ameren (AEE) to $98 from $93 and keeps an Outperform rating on the shares. The firm cites the company having filed testimony in the Missouri rate case, with the headline proposed revenue increase of $398M that compares favorably to the company’s $446M request, the analyst tells investors in a research note. The initial testimony and rate of return parameters from Staff are a “constructive starting point”, BMO added.