The brokerage firms believe AEP benefits from balanced regulation in most of its service territories.  Beginning in 1H10, the firms believe AEP will be able to move its infrastructure improvement program forward without placing undue pressure on the balance sheet.  The stock offers a dividend yield of about 4.7%.  Although this is below the peer average, it is attractive to income-oriented investors.  The firms remain bullish due to an improving balance sheet, an excellent record of operating performance over the last three years, geographic diversity, and a well-maintained electric generating plant.