Zacks Investment Research downgraded shares of American Electric Power Co. Inc. (AEP) from OUTPERFORM to NEUTRAL on January 05, 2015, with a target price of $64.00.
We are downgrading our recommendation on American Electric Power Company, Inc. to Neutral from Outperform following its lower-than-expected third-quarter results primarily due to a milder summer. However, ongoing investments in transmission projects and regulated as well as non-regulated businesses are set to drive its earnings in the future. Moreover, the company will benefit from attractive growth opportunities in the shale-rich regions of Texas and Ohio. The company focuses on providing reliable services to its customers through technological improvements. The company is equally focused on maximizing shareholder value.
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