Barclays Maintains an 'Overweight' on American Electric Power (AEP); Looking Good in Ohio

Barclays maintains an 'Overweight' on American Electric Power (NYSE: AEP) price target raised $1 to $45.

Barclays analyst said, "On Wednesday, the Ohio PUC made its ruling on AEP's two pending settlements. The ruling clears the path for earnings visibility, regulatory certainty in AEP's most important jurisdiction, and should help shake off the overhang and discount that have accompanied the stock during the Ohio rate cases. Coupled with other successes in the AEP story lately, we believe the stock should trade much better, and like it as one of our favorite regulated stocks going into 2012...Net of the adjustments above, our 2012/2013 estimates are moving from $3.20/$3.33 to $3.17/$3.28."

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 $38.72 yesterday.

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