Jefferies Downgrades American Electric Power (AEP) to Hold

Jefferies downgraded American Electric Power (NYSE: AEP) from Buy to Hold with a price target of $50.50 (from $52.50) on valuation.

Analyst Paul B. Fremont comments, "When we upgraded the stock back in February 2012 it was trading at an 18% discount to the group average and since then management has closed the gap through rate increases/cost reductions and the stock is trading at a slight discount. Jefferies believes that any sale of the Genco is unlikely before 2015."

The firm bumped FY 2015 EPS from $3.45 to $3.50.

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 $48.89 yesterday.

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