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Guggenheim upgrades AEP; Janney Montgomery Scott downgrades Eversource

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Guggenheim upgrades AEP; Janney Montgomery Scott downgrades Eversource

Upgrades

* Being more comfortable on the sustainability of Edison International's dividend, Guggenheim Securities LLC on Feb. 23 upgraded the company to "buy" from "neutral."

* Guggenheim Securities on Feb. 20 upgraded American Electric Power Co. Inc. shares to "neutral" from "sell," with a price target of $64. The upgrade reflects a view that investor expectations are realistic about the possibility that AEP's ambitious 2,000-MW Wind Catcher generation project may not get approved.

* Hilliard Lyons Equity Research on Jan. 30 upgraded Dominion Energy Inc. to "buy" from "neutral" with the recent 12% pullback in share price viewed as an opportunity for investors. Hilliard Lyons has an $86 price target on Dominion.

Downgrade

* Janney Montgomery Scott on Feb. 1 downgraded Eversource Energy to "neutral" from "buy," after the New Hampshire Site Evaluation Committee denied the application for the company's Northern Pass transmission line.

Coverage initiations

* Credit Suisse on Feb. 12 initiated coverage of U.S. solar companies First Solar Inc., SunPower Corp. and Sunrun Inc., striking a slightly upbeat tone on the residential solar market. The brokerage started coverage of First Solar at "underperform" with a $55 target price, SunPower at "neutral" with a $7.20 target price, and Sunrun at "outperform" with a $15 price target.

Notable reiteration

* The Williams Capital Group on Feb. 23 maintained its "sell" investment rating on SCANA Corp., amid its continuing doubts on the company's dividend after the first quarter. The brokerage has a $33.50 price target on SCANA.