Jefferies Downgrades American Electric Power (AEP) to Hold
- Banks, telecoms lead Wall Street up; another Dow record
- Western Digital (WDC) Raises Q2 Outlook
- bluebird bio (BLUE) to Offer $200M of Common Stock
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
- After-Hours Stock Movers 12/06: (PLAY) (ANTH) (WDC) Higher; (AVAV) (ESV) (BLUE) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Mizuho Securities Raises Price Target on Francesca's (FRAN) Following 3Q Beat
- UPDATE: Stifel Downgrades Coca-Cola European Partners (CCE) to Hold
- Wedbush Downgrades Select Comfort (SCSS) to Neutral
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!