Goldman Sachs initiated coverage of Ameren with a Sell rating and $73 price target. While the firm says it appreciates Ameren’s “strong track record of execution” and progress on the renewables build-out in Missouri and transmission opportunities, it sees downside risk to consensus earnings estimates largely due to the regulatory overhang in Illinois and notes that its 2024/2025 EPS estimates are 1% below FactSet consensus.
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