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Upgrade Alert for American Electric Power (AEP)

By James Quinn

American Electric Power (NYSE:AEP) was upgraded from Neutral to Buy at Goldman Sachs today. The stock closed yesterday at $69.73 on volume of 2.2 million shares, below average daily volume of 2.8 million.

American Electric Power share prices have moved between a 52-week high of $71.32 and a 52-week low of $52.29 and closed yesterday at 33% above that low price at $69.74 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

Based on a current price of $69.74, American Electric Power is currently 10.5% above its average consensus analyst price target of $62.42. American Electric Power shares have support at the 50-day moving average (MA) of $64.47 and additional support at the 200-day MA of $58.99.

American Electric Power Company, Inc.(AEP)is a public utility holding company. The Company provides electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. AEP serves portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

SmarTrend recommended that subscribers consider buying shares of American Electric Power on May 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.37. Since that recommendation, shares of American Electric Power have risen 6.7%. We continue to monitor AEP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades american electric power

Ticker(s): AEP