Jefferies Maintains a 'Buy' on American Electric Power (AEP); Arkansas Denies Plan

Jefferies maintains a 'Buy' on American Electric Power (NYSE: AEP) price target of $47.50 (from $47.00).

Analyst, Paul B. Fremont, said, "The Arkansas PSC has denied (at least initially) AEP's plan to create a South West Transmission company in AEP subsidiary SWEPCO's service territory...In an order issued August 31, 2012, the Arkansas Public Service Commission (APSC) determined that AEP subsidiary Southwestern Electric Power Company (SWEPCO) has not demonstrated by substantial evidence the benefits from
approving SW Transco as an Arkansas Public Utility."

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 $42.95 yesterday.

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