American Electric Power gains as BTIG turns bullish

American Electric Power

Tue 13:52

** Shares of American Electric Power AEP.O rise 1.5% to $126.52 premarket
** BTIG upgrades stock to "buy" from "neutral"; sets PT at $147, implying an ~18% upside to stock's last close 
** Says AEP is a core large-load growth play, with a 69 GW contracted load backlog through 2030
** Says co has leveraged its geographical footprint and focus on time to power 
** Expects Q3 results to bring a higher capex plan, with possibly more than $10 bln of incremental capital 
** Raises 2026 and 2027 EPS estimates to $6.45 and $6.95, respectively, from $6.40 and $6.93 
** 15 of 24 brokerages rate the stock "buy" or above, 9 "hold"; median PT is $142.91 - data compiled by LSEG
** As of last close, stock up 8.16% YTD

(Reporting by Miraanta Lowrance in Bengaluru)
((miraanta.lowrance@thomsonreuters.com))