As previously reported, BofA analyst Ross Fowler upgraded American Electric (AEP) to Buy from Underperform with a price target of $104, up from $98, following the announcement of a 19.9% stake sale of its transmission holding company assets for $2.8B and appointment of Trevor Mihalik as CFO. The firm views the transmission asset sale as a direct replacement for external equity market needs and expects American to “continue to work toward clearing the perceived equity overhang in the near term,” says the analyst, who now models a “more manageable” $2B equity content issuance in the second half of 2025.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AEP:
- American Electric upgraded to Buy from Underperform at BofA
- American Electric asset sale eases balance sheet overhang, says Morgan Stanley
- American Electric price target lowered to $100 from $108 at BMO Capital
- American Electric Power’s Strategic Partnership with KKR and PSP
- American Electric Power Rises After KKR, PSP Take 20% Stake in Two Units