Jefferies Bumps Price Target on American Electric Power (AEP) to $42.50

Jefferies raised its price target on American Electric Power (NYSE: AEP) from $41.50 to $42.50 while maintaining its Buy rating.

The firm comments, "When we upgraded the stock two weeks ago, we believed the PUCO would institute interim tariffs to limit incremental shopping. Yesterday’s announcement of interim capacity charges accomplished just that, and we believe this is the first step towards getting resolution of the company’s electric security plan similar to the settlement agreement reached late last year."

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 $38.23 yesterday.

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