** BofA Global Research upgrades utility firm American Electric Power to "buy" from "underperform"; raises price objective to $104 from $98
** Brokerage lifts rating following announcement of a 19.9% stake sale in transmission holding company assets for $2.8 bln and appointment of Trevor Mihalik as AEP's CFO
** BofA expects "AEP to continue to work toward clearing the perceived equity overhang in the near term"
** 7 of 22 brokerages rate the stock "buy" or higher, 14 "hold" and 1 "sell"; their median PT is $102 - LSEG data
** Stock was up 13.9% in 2024
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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