American Electric Power Is Attractive Going Forward, Analyst Double-Upgrades Stock

BofA Securities analyst Ross Fowler upgraded the shares of American Electric Power Company Inc AEP from Underperform to Buy and raised the price target from $98 to$104.The analyst upgraded the stock after the company announced the sale of a 19.9% minority stake in its transmission holding assets for $2.8 billion, along with the appointment of Trevor Mihalik as CFO.The analyst sees the asset sale as a strategic move to meet external equity needs and expect AEP to continue addressing the equity overhang in t ...