Deutsche Bank Reiterates Buy on American Electric Power (AEP)

Deutsche Bank is out with its report today on American Electric Power AEP, reiterating Buy. In a note to clients, Deutsche Bank writes, "We believe investor focus remains on the Ohio Electric Security Plan, which we expect the Public Utilities Commission of Ohio to issue a decision on later this year. We reiterate our Buy rating on AEP based on valuation. AEP trades at a 17% discount to regulated peers on 2012 EPS, which we view as too significant even with the regulatory uncertainty in Ohio." Deutsche Bank has a $39 PT on AEP. Shares of AEP closed Tuesday at $35.13, down 0.51% from Monday's close.