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Fly News Breaks for December 15, 2015
AEP
Dec 15, 2015 | 07:07 EDT
Evercore ISI analyst Greg Gordon upgraded American Electric to Buy with a $59 price target on shares. Yesterday, American Electric filed a a stipulation with the Ohio PUC that among other things recommends an eight year contract for 3,094 MWs of the company's Ohio generation assets. Gordon now believes American Electric trades at a discount to $3.65 earnings in 2017 and sees minimal dilution if PUCO approves the stipulation.
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