Jefferies Downgrades FirstEnergy Corp. (FE) to Underperform
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Price: $38.22 -0.08%
Rating Summary:
5 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
5 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade FE Now!
Jefferies downgraded FirstEnergy Corp. (NYSE: FE) from Hold to Underperform with a price target of $40 (down from $48).
The firm comments, "We are downgrading FirstEnergy to Underperform from Hold based on increasing regulatory risk in New Jersey and Ohio. Next month regulators are expected to rule in New Jersey on whether to issue a show cause order requiring JCPL to file a rate case. In Ohio, the company's ESP 3 stipulation is running into increasing opposition over the continuation and expansion of the delivery capital recovery rider."
For an analyst ratings summary and ratings history on FirstEnergy Corp. click here. For more ratings news on FirstEnergy Corp. click here.
Shares of FirstEnergy Corp. closed at $47.70 yesterday, with a 52 week range of $38.77-$48.17.
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The firm comments, "We are downgrading FirstEnergy to Underperform from Hold based on increasing regulatory risk in New Jersey and Ohio. Next month regulators are expected to rule in New Jersey on whether to issue a show cause order requiring JCPL to file a rate case. In Ohio, the company's ESP 3 stipulation is running into increasing opposition over the continuation and expansion of the delivery capital recovery rider."
For an analyst ratings summary and ratings history on FirstEnergy Corp. click here. For more ratings news on FirstEnergy Corp. click here.
Shares of FirstEnergy Corp. closed at $47.70 yesterday, with a 52 week range of $38.77-$48.17.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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