Wells Fargo analyst Shahriar Pourreza maintained a Buy rating on American Electric Power yesterday and set a price target of $148.00. The company’s shares closed yesterday at $123.33.
Pourreza covers the Utilities sector, focusing on stocks such as Public Service Enterprise, NRG Energy, and Vistra Corp. According to TipRanks, Pourreza has an average return of 5.9% and a 54.64% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for American Electric Power with a $141.33 average price target, which is a 14.59% upside from current levels. In a report released on September 9, TD Cowen also maintained a Buy rating on the stock with a $149.00 price target.
Based on American Electric Power’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.45 billion and a net profit of $713 million. In comparison, last year the company earned a revenue of $5.09 billion and had a net profit of $1.23 billion
