UPDATE: Goldman Sachs Cuts PT to $31 on Ameren on Revised Rate Assumptions

Goldman Sachs reiterates its Neutral rating on Ameren AEE and cuts its price target from $32 to $31. Goldman Sachs comments, "We maintain our Neutral rating on AEE, largely on valuation, in the context of our Neutral coverage view on utilities overall. …We believe investors should focus on certain key points, including: (1) outlook for the ongoing rate proceedings in MO and IL, (2) potential incremental FERC regulated transmission projects, and (3) updates on 2013/2014 hedging of coal, rail and power at the merchant segment." AEE closed at $33.61 on Friday.