UPDATE: Jefferies Raises American Electric Power's PT

According to a research report published earlier today, Jefferies has increased American Electric Power's

PT from $42.50 to $43. Jefferies commented in the report, “Our price target of $43.00 (from $42.50) is based on our 2013 EPS estimate of $3.30 in conjunction with an 13.0x P/E multiple. The 13.0x multiple is an 8% discount to the group average for our regulated electric utility group. Based on yesterday's closing price for AEP of $39.03, this represents 12-month price appreciation and total return potential of 10.2% and 15.0%, respectively, including the dividend yield of 4.8%.” Jefferies maintains its Buy rating on American Electric Power, which closed yesterday at $39.05.