American Electric price target lowered to $101 from $104 at Mizuho

Mizuho analyst Anthony Crowdell lowered the firm’s price target on American Electric to $101 from $104 and keeps a Buy rating on the shares after the Federal Energy Regulatory Commission denied, "without prejudice," the proposed Liberty Utilities acquisition of American Electric subsidiary Kentucky Power. The analyst believes American Electric has other levers to pull, such as an acceleration of the renewables sale, to offset the loss of cash proceeds and believes management will move past the transaction.