American Electric price target raised to $115 from $111 at BMO Capital

BMO Capital raised the firm’s price target on American Electric (AEP) to $115 from $111 and keeps an Outperform rating on the shares ahead of its Q1 results. With equity requirements fulfilled for its “current” 5-year plan, the firm expects the focus to turn to macro-related issues around tariffs and industrials sales, IRA phase out/repeal implications, updated outlook for DC ESAs – data center electrical service agreements – and progress on its $10B of upside CapEx, the analyst tells investors in a research note.