Scotiabank News & Analysis

AEP Target Price Raised by TD Cowen to $148 Amid Growth Outlook

TD Cowen analyst Shelby Tucker has raised the price target for American Electric Power Company, Inc. (AEP) from $141 to $148, maintaining a Buy rating. The update follows first-quarter earnings reports, indicating a robust EPS growth outlook exceeding a 9% CAGR, supported by new capital projects. Scotiabank also increased its price target on AEP to $140 from $131, with shares currently trading at over a 10% P/E premium compared to peers. This assessment highlights AEP's strong potential for growth amid a competitive utility sector.