Deutsche Bank Maintains Buy Rating and $40.50 PT on American Electric Power

A report from Deutsche Bank reiterates its Buy rating and $40.50 price target on American Electric Power AEP. The report states, “AEP reported Q3 EPS above expectations, driven by non-recurring benefits (TX court decision and stronger weather). The real focus for AEP continues to be on the company's longer-term outlook, where Ohio remains the key pending piece. Decisions on AEP's Ohio Electric Security Plan (ESP) stipulation, APCo's VA rate case, and further clarity on environmental rules should allow AEP to provide a multi-year outlook in early 2012." AEP closed yesterday at $38.80.