Morgan Stanley raised the firm’s price target on American Electric (AEP) to $123 from $115 and keeps an Overweight rating on the shares. The firm is updating its price targets for Regulated & Diversified Utilities / IPPs in North America under its coverage, the analyst tells investors. In September, utilities outperformed the S&P, the firm notes. Heading into Q3, the firm expects a key focus for utilities to be on the evolution of data center pipelines and is watching for commentary around interconnection times.
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 initiated with a Neutral at BTIG
- American Electric price target raised to $128 from $116 at Jefferies
- American Electric subsidiary closes on $1.6B DoE loan guarantee
- American Electric Power: Strategic Investments and Growth Trajectory Drive Buy Rating
- American Electric price target raised to $127 from $121 at BMO Capital