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
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AEP:
- American Electric price target raised to $121 from $118 at BMO Capital
- American Electric price target raised to $116 from $109 at Mizuho
- American Electric Power Reports Record Earnings and Growth Plans
- AEP Reports Record Earnings and Growth Prospects
- American Electric backs FY25 operating EPS view $5.75-$5.95, consensus $5.86