Siebert Williams initiates coverage on American Electric Power with 'buy'

Brokerage Siebert Williams Shank & Co initiates coverage on utility American Electric Power AEP.O with a "buy" rating, sets price target at $137

The new PT represents upside of 19.4% to the stock's last close

Brokerage expects co's earnings growth over the next five years to be driven by strong retail electricity demand and substantial rate base expansion, supporting steady long-term EPS growth

Expects EPS growth CAGR of 8.8% through 2030 - brokerage says

The ongoing clean energy transition and rising demand from AI, data centers, and industrial sectors point to a long-term period of above-average utility load growth that could persist for decades - Siebert Williams

Including session's moves, shares up 25.3% YTD