BMO Capital Maintains Outperform Rating for American Electric Power: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
BMO Capital has maintained its Outperform rating for American Electric Power (NASDAQ:AEP) but lowered its price target from $94.00 to $88.00. AEP's shares are currently trading down at $77.43, and the new price target suggests a potential upside of 13.65%. American Electric Power is a major regulated utility in the U.S., with a diverse energy generation mix.
January 22, 2024 | 5:00 pm
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BMO Capital maintains Outperform rating on AEP with a reduced price target of $88, down from $94, indicating a potential 13.65% increase from the current price.
The maintenance of an Outperform rating by BMO Capital suggests a positive outlook on AEP's stock, despite the reduction in price target. This could be seen as a reaffirmation of the company's strong fundamentals and potential for growth, albeit with a slightly adjusted expectation. The new price target still represents a significant upside from the current trading price, which may attract investors looking for growth opportunities.
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