Morgan Stanley lowered the firm’s price target on American Electric (AEP) to $104 from $109 and keeps an Overweight rating on the shares. Utilities underperformed the S&P’s -0.91% return in October, leading the firm to adjust the price targets of several stocks in its North America Regulated & Diversified Utilities / IPPs coverage, the analyst tells investors. From recent meetings at the EEI Financial Conference, the firm came away incrementally negative on California, given its increased regulatory and political risk as well as its relatively limited data center growth.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AEP:
- Bloom Energy price target raised to $22 from $14 at Wells Fargo
- Bloom Energy price target raised to $28 from $15 at RBC Capital
- Bloom Energy price target raised to $28 from $20 at Morgan Stanley
- Berkshire reveals stake in Domino’s, Alibaba reports mixed Q2: Morning Buzz
- Morgan Stanley sees strong earnings contribution margin for Bloom from AEP deal
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
