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Fly News Breaks for January 3, 2019
AEP
Jan 3, 2019 | 05:09 EDT
Mizuho analyst Paul Fremont downgraded American Electric Power to Neutral from Buy and lowered his price target for the shares to $70 from $76. The analyst cites valuation for the downgrade as he believes the company should not be given a premium multiple. Over the past year, American Electric shares have outperformed an index of peers by roughly 6%, Fremont tells investors in a research note.
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