Merrill Lynch Maintains a Buy Rating on American Electric Power (AEP)


In a report released yesterday, Julien Dumoulin Smith from Merrill Lynch maintained a Buy rating on American Electric Power (NYSE: AEP). The company’s shares closed yesterday at $71.65.

According to TipRanks.com, Smith is a 4-star analyst with an average return of 5.0% and a 63.7% success rate. Smith covers the Utilities sector, focusing on stocks such as Centerpoint Energy, Dominion Resources, and Eversource Energy.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for American Electric Power with a $75.50 average price target, a 5.4% upside from current levels. In a report issued on August 13, KeyBanc also reiterated a Buy rating on the stock with a $75 price target.

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American Electric Power’s market cap is currently $38.21B and has a P/E ratio of 18.37. The company has a Price to Book ratio of 2.04.

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American Electric Power Co., Inc. is a public utility holding company that engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing.

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