Deutsche Bank Starts Coverage on Utilities Stocks: CMS, AEP, EIX, ITC, PSEG at Buy

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Rating Summary:
3 Buy, 5 Hold, 0 Sell

Rating Trend: Down

Down

Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23

Just after the close, Deutsche Bank initiated coverage on numerous stocks in the Utilities industry.

With a Buy rating:

CMS Energy (NYSE: CMS) - $17 price target. "Benefits from one of the most supportive regulatory constructs courtesy of last year's new Michigan energy legislation."
American Electric Power (NYSE: AEP) - $37 target. Says "AEP offers investors growth opportunities through its transmission project pipeline in some of the country's main energy corridors."
Edison International (NYSE: EIX) - $37 target. Calls EIX "a strong growth utility with an undervalued merchant coal option led by a value-focused management team with a proven track record of working through difficult market conditions."
ITC Holdings (NYSE: ITC) - $50 target. Sees the stock undervalued given "significantly higher EPS growth over the next five years..."
Public Service Enterprise Group (Nasdaq: PSEG) - $36 target. "Offers investors growth opportunities through its regulated utility in New Jersey." The firm also likes the company's exposure to attractive generation assets in PJM.