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American Electric price target raised to $114 from $102 at Scotiabank

Scotiabank analyst Andrew Weisel raised the firm’s price target on American Electric (AEP) to $114 from $102 and keeps a Sector Perform rating on the shares. The firm is “impressed” by the company’s bullish update, with “robust” long term trends, the analyst tells investors. The firm is encouraged by strong demand trends and the company’s ongoing balance sheet improvement, but remains on the sidelines given the “reasonable” peer-average price-to-earnings valuation

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