American Electric initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of American Electric (AEP) with an Outperform rating and $133 price target The firm is constructive on the company’s share performance over the past 12-18 months as it believes the company is poised to meaningfully and incrementally benefit from continued data center and large load development. Overall, the analyst believes American Electric has shown the ability to execute as needed to be a key power player within the U.S. large load build-out as showcased by its willingness to embrace partnerships “behind-the-meter” to foster future returns.