Jefferies Maintains a 'Hold' on American Electric Power (AEP); Changing Faces, Changing Places

Jefferies maintains a 'Hold' on American Electric Power (NYSE: AEP) price target raised $2 to $39.

Jefferies analyst says, "Approval of the stipulation by the PUCO would transform AEP’s business mix from fully regulated today to 75% regulated and 25% commodity beginning in 2015. As with other merchant integrated companies we would value the regulated utility business on a P/E basis and use EV/EBITDA on the company’s merchant operations. Using our revised valuation we believe that the company is fairly valued at current levels."

For more ratings news on American Electric Power click here and for the rating history of American Electric Power click here.

Shares of American Electric Power closed at $38.66 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• Jefferies upgrades Five Below to Buy, sees path to TJX-like re-rating
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker