American Electric price target raised to $111 from $107 at BMO Capital

BMO Capital raised the firm’s price target on American Electric (AEP) to $111 from $107 and keeps an Outperform rating on the shares. The firm views the company’s equity raise positively as it removes the equity/credit overhang on the stock, the analyst tells investors in a research note. Given the accretion from its transmission sale, the management also has not changed its Q4 long-term financial outlook, BMO added.