Jefferies Lifts Numbers on American Electric (AEP)

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Jefferies boosted estimates and its price target on Buy-rated American Electric Power (NYSE: AEP) from $46 to $47 after the PUCO issued AEP Ohio's ESP order which provided the utility with a retail stability rider, a distribution investment rider and a fuel adjustment clause. The company will also be subject to a significant excessive earnings test (SEET) threshold of 12%. The commission did not approve the corporate separation plan but is planning to issue a decision in a separate order.

The firm raised FY12, FY13 from $3.05 to $3.15.

For an analyst ratings summary and ratings history on American Electric Power click here. For more ratings news on American Electric Power click here.

Shares of American Electric Power closed at $42.35 yesterday, with a 52 week range of $33.09-$43.08.

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