Scotiabank raised the firm’s price target on American Electric (AEP) to $121 from $114 and keeps a Sector Perform rating on the shares. The company’s balance sheet is in good shape, with strong near-term credit metrics, and has demonstrated an ability to convert demand to upside, the analyst tells investors. However, the firm remains on the sidelines, believing the stock looks fairly valued.
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Read More on AEP:
- American Electric price target raised to $137 from $133 at Evercore ISI
- American Electric price target raised to $123 from $113 at Mizuho
- American Electric downgraded to Market Perform from Outperform at BMO Capital
- Balanced Outlook on American Electric Power: Hold Rating Amid Growth Prospects and Execution Risks
- American Electric Power’s Ambitious Growth and Earnings Outlook