American Electric price target raised to $106 from $95 at Barclays

Barclays raised the firm’s price target on American Electric (AEP) to $106 from $95 and keeps an Equal Weight rating on the shares. The firm adjusted utilities and power sector models heading into Q1 earnings to reflect the macro positioning and updated thoughts on the U.S. utilities tariff outlook. The sector poised to a continue to re-rate on an absolute basis given the defensive characteristics of the industry, the analyst tells investors in a research note.