Morgan Stanley Thinks American Electric Power’s Stock is Going to Recover

By Carrie Williams

Morgan Stanley analyst Stephen Byrd maintained a Buy rating on American Electric Power (NYSE: AEP) today and set a price target of $71. The company’s shares closed yesterday at $64.92, close to its 52-week low of $63.32.

According to TipRanks.com, Byrd is a 1-star analyst with an average return of -1.6% and a 50.0% success rate. Byrd covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Public Service Enterprise, and South Jersey Industries.

American Electric Power has an analyst consensus of Strong Buy, with a price target consensus of $73.38.

Based on American Electric Power’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $3.81 billion and quarterly net profit of $401 million. In comparison, last year the company earned revenue of $3.71 billion and had a net profit of $373 million.

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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.