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Fly News Breaks for September 10, 2018
AEP
Sep 10, 2018 | 08:15 EDT
As previously reported, Guggenheim upgraded American Electric to Buy from Neutral and raised its price target to $77 from $64. Analyst Shahriar Pourreza believes shares trade at an attractive valuation with catalysts ahead following the removal of the overhang from Wind Catcher. Pourreza sees a multiple re-rating on shares from incremental capital to be added to the plan in the form of gas infrastructure, renewables, and grid modernization, which could lead to higher earnings, and potential monetization of underperforming assets and redeploy proceeds into other jurisdictions with higher returns.
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