FirstEnergy Corp. (FE) PT Raised to $50 at Mizuho

Mizuho analyst Paul Fremont raised the price target on FirstEnergy Corp. (NYSE: FE) to $50.00 (from $45.00) while maintaining a Neutral rating.

The analyst comments "FE reported 3Q EPS of $0.83 versus Street estimates of $0.77, and raised their 2025 guidance midpoint by $0.03 ($2.50 to $2.53). FE was very clear that they would provide a full capital refresh on 4Q call and initiate 2026 guidance in December. FE Bulls believed we would get a sneak peek into all the CAPEX opportunities in their service territory. Bulls were hoping these CAPEX opportunities could lead to a CAGR boost, but commentary during Q&A led investors to believe it would strengthen and lengthen the current plan (6-8% CAGR). FE finished the day towards the bottom of the board. FE's long-term pipeline demand has nearly doubled since February (6.1 GW to 11.7 GW), and has potential upside from a 1Q26 PJM open window on transmission investment. We continue to maintain our Neutral rating on FE, and update our PT to $50 based on current market multiples."

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