UPDATE: Morgan Stanley Upgrades Ameren Corporation to Overweight on Generation Exit
Morgan Stanley raised its rating on Ameren Corporation (NYSE: AEE) from Equal-weight to Overweight with a $37.50 price target.
Morgan Stanley noted, "We are upgrading AEE to Overweight given AEE's intention, announced yesterday, to exit the merchant generation business, which in our view will eliminate a significant drag on AEE EPS and valuation. We believe shares have 25% total return, including an above average 5.2% dividend yield."
Ameren Corporation closed at $31.17 on Thursday.
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