BMO Capital Markets raises PT on American Electric Power

BMO Capital Markets raises price target on utility company American Electric Power AEP.O to $111 from $107

New PT represents 8.3% upside to stock's last close

Company had announced pricing of a forward equity sale at $102/share on Tuesday, raising nearly $2.3 bln in common equity to be settled by end of 2026

Brokerage sees the transaction positively as it removes the equity/credit overhang on the stock

"We would expect investors' focus to pivot toward the company's s 3Q25 updated 5-year capital plan, where management is working to pull the identified $10 bln in upside capital into its next 5-year plan" - BMO adds

7 of 21 brokerages rate the stock "buy" or higher, 13 "hold" and 1 "sell"; their median PT is $104 - data compiled by LSEG

Until last close, stock up 11.1% YTD