Argus raised the firm’s price target on American Electric (AEP) to $140 from $128 and keeps a Buy rating on the shares. The company is one of the largest U.S. electricity providers, with operations in 11 states, and its broad service range can steady earnings and reduce the impacts of unfavorable temperature- related demand, the analyst tells investors in a research note.
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Read More on AEP:
- UBS upgrades American Electric to Neutral on better growth outlook
- American Electric upgraded to Neutral from Sell at UBS
- American Electric price target raised to $133 from $125 at Morgan Stanley
- American Electric price target raised to $141 from $137 at TD Cowen
- AEP: Expanding Contracted Load and Conservative $72B Capital Plan Support 7%–9% EPS Growth and Potential Premium Valuation