Jefferies Maintains a 'Buy' on American Electric Power (AEP); Highlights From Meeting with PUCO Chairman
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Price: $125.60 +0.18%
Rating Summary:
16 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Buy' on American Electric Power (NYSE: AEP) price target raised from $42.50 to $43.
Analyst, Paul B. Fremont, said, "Yesterday Jefferies met with PUCO Chairman Todd Snitchler, Commissioner Steven Lesser and various intervenors regarding the AEP ESP filing. The purpose of the meeting was to determine the next step in the company’s expected ESP filing later this month and to scope out the prospects of a possible settlement...Jefferies believes that the commission will likely deal with certain components of the ESP case through separate orders. We would expect the Public Utility Commission of Ohio (PUCO) to rule on a permanent capacity price and asset divestiture before May 31, 2012."
"Jefferies believes that imposing a “Duke-like” settlement is impractical for AEP based on the power pool agreement...Jefferies believes that materially altering the length of the transition period is impractical due to the complexity of the power pool."
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 $39.05 yesterday.
Analyst, Paul B. Fremont, said, "Yesterday Jefferies met with PUCO Chairman Todd Snitchler, Commissioner Steven Lesser and various intervenors regarding the AEP ESP filing. The purpose of the meeting was to determine the next step in the company’s expected ESP filing later this month and to scope out the prospects of a possible settlement...Jefferies believes that the commission will likely deal with certain components of the ESP case through separate orders. We would expect the Public Utility Commission of Ohio (PUCO) to rule on a permanent capacity price and asset divestiture before May 31, 2012."
"Jefferies believes that imposing a “Duke-like” settlement is impractical for AEP based on the power pool agreement...Jefferies believes that materially altering the length of the transition period is impractical due to the complexity of the power pool."
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 $39.05 yesterday.
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