Zacks Investment Research upgraded shares of American Electric Power Co. Inc. (AEP) from NEUTRAL to OUTPERFORM on July 02, 2014, with a target price of $66.00.
We are upgrading our recommendation on American Electric Power Company, Inc. to Outperform from Neutral based on the company's regulated business mix, its increasing focus on transmission as a growth driver and planned capital spending program. Earnings in the first quarter of 2014 beat the Zacks Consensus Estimate by 26.4% and improved 43.8% year over year supported by favorable weather and high power prices. To comply with the Obama climate plan, American Electric is increasing its gas capacity as opposed to coal. Moreover, the company will benefit from attractive growth opportunities in the shale rich regions of Texas and Ohio.
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