American Electric price target raised to $89 from $84 at Wells Fargo

Wells Fargo raised the firm’s price target on American Electric to $89 from $84 and keeps an Equal Weight rating on the shares on higher peer multiples. On a price to earnings multiple basis, shares trade in line with peers on the firm’s 2025 and 2026 EPS. Wells views the valuation as fair in light of a modestly weak balance sheet and regulatory hiccups.