Keybanc Raises Ameren (AEE) Price Target to $122

Keybanc has reaffirmed its Overweight rating on Ameren Corporation with a new price target of $122.00, a 15.39% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:16 PM EDT

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Keybanc raised its price target on Ameren Corporation ($AEE) to $122 from $116 on October 13, 2026, and rates the stock "Overweight".

Since the rating, $AEE is up 1.7% to date (from the $104.32 close on Oct 13, 2026).

AEE Ameren Corporation

$106.08 +7.39% year to date

Daily close · Oct 16, 2026

Key Points

On October 13, 2026, Keybanc reiterated its Overweight rating for Ameren Corporation (NYSE: AEE) and set a new price target of $122.00, up from $116.00.
Keybanc's $122 price target implies 15.39% upside from Ameren Corporation's ($AEE) current $105.73 share price.
As of October 16, 2026, Ameren shares were recently trading around $105.73, which is about 13.3% below the new price target.
Ameren has reported trailing twelve-month revenue of approximately $8.41 billion and an earnings per share of $5.68.

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Keybanc has reiterated its Overweight rating on Ameren Corporation (NYSE: AEE) on October 13, 2026, raising its price target from $116.00 to $122.00. This marks a positive outlook for the utility company, although the shares were recently trading around $105.73, which is about 13.3% below the new target.

Other Institutional Activity in Ameren Corporation

Several other institutional investors have maintained their positions in Ameren. Blackrock Inc. holds 25,818,527 shares valued at about $2.74 billion, having increased its stake by 2,020,456 shares, a 8.5% rise. Vanguard Capital Management LLC has 18,050,825 shares worth approximately $1.91 billion, having added 125,477 shares, a 0.7% increase. Meanwhile, State Street Corporation holds 15,171,626 shares valued at around $1.61 billion, increasing its stake by 241,862 shares, a 1.6% rise.

Ameren Corporation Stock Up 3.4%

Ameren shares are trading at $105.73 as of October 16, 2026. This price is notably below the new target of $122.00 set by Keybanc, suggesting potential upside if the stock aligns with analysts' expectations. The company's performance has been influenced by a recent decline in revenue growth of 6.2% year-over-year.

12-month forecast

$AEE price target

Ameren Corporation daily closes and this analyst's $122 target. Not advice.

Recent Earnings

Ameren reported trailing twelve-month revenue of approximately $8.41 billion and earnings per share of $5.68. The next earnings report is scheduled for November 4, 2026, which will provide further insights into the company’s financial health.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

C 57/100

Reported May 5, 2026

Forward outlook
1 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 7.3%. Revenue missed estimates by 4.6%.
Profit surprise
EBITDA beat by 5 percent. Operating income beat by 15 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
1 upgrade, 1 target raise, 1 target cut.
Earnings quality
Gross margin up 55.1 points. Operating margin up 3.9 points. Positive free cash flow.

Earnings Call Summary

The company earned $1.28 per share in the first quarter, beating consensus of $1.17, driven by steady infrastructure investment and new generation projects. Revenue of $2.18 billion fell short of the $2.28 billion expected due to warmer winter weather in Missouri. Management highlighted progress on data centers and new power plants, with groundbreaking expected this spring on the $2.2 billion in signed agreements.

Guidance Ameren reaffirmed its full year earnings forecast of $5.25 to $5.45 per share. The company expects to invest more than $70 billion in the grid through 2035 and signed $2.2 billion in data center agreements this quarter.

Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.

Insider Buying and Selling at Ameren Corporation

Recent insider transactions showed several officers selling shares. Michael L. Moehn, an officer, sold 6,500 shares on August 3, 2026, at an average price of $108.96, totaling approximately $708,240. Theresa A. Shaw also sold 325 shares on August 14, 2026, for about $35,402, and Ryan Martin sold 971 shares on August 20, 2026, valued at around $106,689. Rafael Flores, a director, sold 248 shares on September 11, 2026, at a price of $105.53, totaling about $26,171.

Analysts Set New Price Targets

On October 13, 2026, Keybanc reiterated its Overweight rating on Ameren with a new price target of $122.00, up from $116.00. Other analysts have provided mixed views, with Morgan Stanley maintaining an Equal-Weight rating and a target of $108.00, while RBC Capital also maintained its Sector Perform rating with a target of $107.00. The consensus indicates a cautious outlook with various price targets reflecting differing assessments of the stock's potential.

About Ameren Corporation

Ameren Corporation operates as a public utility holding company in the United States, focusing on the generation, transmission, and distribution of electricity and natural gas. With four segments, it serves customers primarily in Missouri and Illinois. The company is headquartered in Saint Louis, MO, and employs around 8,913 people. The recent analyst activity suggests a strategic outlook on its performance amidst regulatory challenges in the utility sector.

Bottom Line

Investors should monitor Ameren's next earnings report on November 4, 2026, for updates on its financial performance. With Keybanc's new price target, the gap between the current share price and the target could suggest potential movements in the stock if the company meets expectations.