UPDATE: Macquarie Capital Reiterates Neutral Rating, Raises PT on American Electric Power Company as Management Continues to Deliver on Promises

In a report published Tuesday, Macquarie Capital analyst Angie Storozynski reiterated a Neutral rating on American Electric Power Company AEP, and raised the price target from $47.00 to $50.00. In the report, Macquarie Capital noted, “AEP continues to deliver on its transmission growth and cost-cutting promises navigating past the lack of load growth and a merchant revenue cliff in '16. This is us giving management well-deserved credit. Better late than never.” American Electric Power Company closed on Monday at $47.10.