Ameren price target lowered to $77 from $82 at Mizuho

Mizuho analyst Anthony Crowdell lowered the firm’s price target on Ameren to $77 from $82 and keeps a Neutral rating on the shares. Post-close on Friday, the Illinois Commerce Commission published a proposed decision for Ameren Illinois’ electric multi-year rate plan, the analyst tells investors in a research note. The firm says the proposed return on equity and cap structure came in significantly lower than the company’s ask at 9.24%a and 50%, respectively. Mizuho views this as a challenging data point for Ameren.