BMO Capital analyst James Thalacker raised the firm’s price target on American Electric to $105 from $95 and keeps an Outperform rating on the shares. In a surprise ruling, the FERC on Thursday denied the KPCo/Liberty Utilities 203 filing, which was the last approval needed for American Electric to complete the sale of Kentucky Power, Thalacker tells investors in a research note. The company plans to accelerate the sale of its 1,365MW Renewables portfolio/strategic review of the Retail business to address the potential 2023 financing gap of $1.2B, the analyst says.
Published first on TheFly
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