Citigroup (NYSE:C) Increases Price Target on American Electric (NYSE:AEP)

American Electric Power Company, Inc. (NYSE:AEP) had their price target increased by Citigroup Inc. from $41 to $43 a share.

Earnings per share was downwardly revised from the prior outlook by Citi.

Citigroup analyst Brian Chin wrote in a note, "Our new 2010-12 EPS is $3.01/$3.22/$3.32 versus prior published $3.02/$3.25/$3.36. Our modest EPS outlook revision is attributed to updates to our model - mainly from slightly lower load growth versus prior forecasts. Our new EPS outlook still translates into a consolidated CAGR of 3.6% for the '09A-'12E timeframe - higher than the 1.2% CAGR the company generated in the '06A-'09A timeframe. Additionally, we are increasing our 12 month target price to $43 from $41 - solely attributed to the removal of our half year discount."

Cit said they're maintaining their "Buy" rating on American Electric.

Goldman Sachs (NYSE:GS) Likes American Electric Power (NYSE:AEP)

Goldman Sachs (NYSE:GS) said they continue to like American Electric Power (NYSE:AEP), citing they are trading at a strong discount to their peers, one of the few regulated large cap companies to do so.

The dividend yield continues to be attractive as well, standing at 5 percent.

Consequently, the giant financial institution retains their "Buy" rating on American Electric Power Company, and a $38 price target.

Goldman analysts did however lower their earnings per share estimate from $3.05 to $2.88 for 2010.