Deutsche Bank Has Buy On American Electric Power

Deutsche Bank is out with a research report on American Electric Power

and it has a Buy rating and a $40.50 price target on shares. In a note to clients, Deutsche Bank writes, "Yesterday AEP reached a settlement with the majority of parties in several outstanding cases before the PUCO, most significantly the 2012 Electric Security Plan (

) case. Signatories include PUCO Staff, industrial groups and competitive retailers. Notable absentees are FE and the Ohio Consumers' Counsel. Next steps are supporting testimony (9/13), opposing testimony (9/27) and a hearing (tentatively 10/4) with an order targeted for early November." Shares of AEP gained 11 cents yesterday to close at $38.24.