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American Electric Power (AEP) Gets a Buy from Wells Fargo

Tipranks - Tipranks - Tue Jun 2, 4:44AM CDT

Wells Fargo analyst Shahriar Pourreza maintained a Buy rating on American Electric Power on May 29 and set a price target of $148.00. The company’s shares closed last Friday at $126.67.

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Pourreza covers the Utilities sector, focusing on stocks such as Sempra Energy, Eversource Energy, and Constellation Energy Corporation. According to TipRanks, Pourreza has an average return of 8.1% and a 65.26% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Electric Power with a $142.81 average price target, a 12.74% upside from current levels. In a report released on May 29, Truist Financial also assigned a Buy rating to the stock with a $145.00 price target.

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Based on American Electric Power’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.02 billion and a net profit of $874 million. In comparison, last year the company earned a revenue of $5.64 billion and had a net profit of $800.2 million

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