UPDATE: Morgan Stanley Reiterates on American Electric Power Company Following 1Q14 Earnings Call

In a report published Monday, Morgan Stanley analyst Stephen C. Byrd reiterated an Overweight rating on American Electric Power Company AEP, and raised the price target from $57.00 to $58.00. In the report, Morgan Stanley noted, “AEP's 1Q14 earnings call highlighted the achievability of growth at the high end of the range set forth by management, in our view. Our 2016e EPS is $0.26/sh above consensus, driven by lower O&M and higher growth capex.” American Electric Power Company closed on Friday at $53.38.