American Electric price target raised to $128 from $116 at Jefferies

Jefferies raised the firm’s price target on American Electric (AEP) to $128 from $116 and keeps a Hold rating on the shares. American Electric is set to outline its 2026-2030 capital plan of approximately $70B on October 29, supported by 24 GW of contracted load, tariff protections, and 2026 EPS guidance anchoring its multi-year outlook, the analyst tells investors in a research note. The firm’s Holding rating reflects a credible mid-7% EPS CAGR and strong legislative support across key states, tempered by ongoing equity needs and the $1.9B West Virginia rate-base reduction, though improving regulatory momentum and management confidence suggest a more favorable risk-reward setup ahead of the update, the firm says.