Price versus value
- Price
- $99.93
- Fair value
- $108.60
- Potential value
- $146.69
- As of
- 2026-10-05
Main upside reason
Accelerated execution and regulatory integration of 2.8 GW in signed large-load data center energy service agreements and 4 GW of completed interconnection studies, combined with potential bid selections in MISO Tranche 2.1 competitive transmission projects, accelerating rate base expansion and driving EPS compounding toward the high end of management's 6% to 8% target to reach Potential value of $146.69.
Main risk
State regulatory commissions in Missouri or Illinois impose capital expenditure disallowances or compress authorized returns on equity below 9.8%, pushing consolidated operating margin below 20.20%.
We rate Ameren Corporation Hold with a Fair value of $108.60 against the report-date price of $99.93 on October 5, 2026, as steady rate base growth and data center demand are balanced by heavy capital needs and financing costs.3
Our rating for Ameren Corporation is Hold. For an everyday investor, a Hold rating means existing shareholders should maintain their position rather than buying additional shares or selling out. The shares offer dependable income from an annual dividend of $3.00 per share and low-volatility exposure to regulated infrastructure. However, the stock price already reflects most near-term growth, leaving limited safety margin for new capital deployment.7
The report was prepared at a price of $99.93 on October 5, 2026. This price stands against a of $108.60 and a of $146.69. The stock trades at an implied return of 8.68% to Fair value, which represents a 7.99% discount to intrinsic worth. While the company could reach Potential value under exceptional operational execution, Fair value remains our primary anchor for investment decisions.
