Jefferies Downgrades American Electric Power (AEP) to Hold
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies downgraded American Electric Power (NYSE: AEP) from Buy to Hold with a price target of $67.00 (from $77.00) citing valuation.
Analyst Anthony Crowdell commented, "We are downgrading AEP to Hold from Buy on valuation. We are lowering our 2017-2019 EPS estimates, and our $4.20 estimate in 2019 assumes 6% growth at the utilities and guidance 'base case' earnings at the Transco. We do not think the Street is factoring in the loss of genco earnings in 2017-2019. Our price target assumes a group average multiple, and we currently finding the stock trading at a 2% discount."
Shares of American Electric Power closed at $65.42 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- General Electric (GE) PT Lowered to $35 at UBS Following 4Q Report
- CytoSorbents (CTSO) PT Raised to $10 at Maxim Group
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!