Siebert Williams analyst Christopher Ellinghaus initiated coverage of American Electric (AEP) with a Buy rating and $137 price target The primary drivers of AEP’s earnings growth over the next five years should be “mighty” retail electricity load growth of near 9% and “significant” rate base growth of near 10%, says the analyst, who forecasts a compound annual EPS growth rate of 8.8% through 2030.
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