JPMorgan analyst Christopher Turnure upgraded American Electric Power to Overweight from Neutral and raised his price target for the shares to $88 from $78. The company has filled out $1.4B of non-utility renewables investment and entered into an Oklahoma settlement that "bodes well for lag catch up" over the last two months, Turnure tells investors in a research note. The shares are at an "inflection point" as growth accelerates, visibility improves, the balance sheet is more fully utilized and perceived quality differential versus "more expensive" peers narrows, says the analyst.