Soleil Securities Upgrades FirstEnergy Corp. (FE) to Buy; Raising Numbers; Merger Benefits and Cyclical Upside
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Price: $46.16 -2.16%
Rating Summary:
16 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
16 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Soleil Securities upgraded FirstEnergy Corp. (NYSE: FE) from Hold to Buy. PT increased from $36 to $48.
Soleil analyst says, "We see FE as a play on two important themes: 1) Stock-specific outperformance potential based on our analysis that even management's higher guidance may understate the merger benefits that can be achieved as the merger integration proceeds; 2) In our view, the cyclical bottom of earnings for hybrid plays like FE is approaching, and we now consider FE a good way to play the upturn in power prices that is evident in substantially higher forward power prices in 2014 and beyond versus the near years...Our EPS estimates rise to $3.35 (from $3.15) for 2011, $3.35 (from $2.90) for 2012, and $3.40 (from $2.75) for 2013."
For more ratings news on FirstEnergy Corp. click here and for the rating history of FirstEnergy Corp. click here.
Shares of FirstEnergy Corp. closed at $42.02 yesterday.
Soleil analyst says, "We see FE as a play on two important themes: 1) Stock-specific outperformance potential based on our analysis that even management's higher guidance may understate the merger benefits that can be achieved as the merger integration proceeds; 2) In our view, the cyclical bottom of earnings for hybrid plays like FE is approaching, and we now consider FE a good way to play the upturn in power prices that is evident in substantially higher forward power prices in 2014 and beyond versus the near years...Our EPS estimates rise to $3.35 (from $3.15) for 2011, $3.35 (from $2.90) for 2012, and $3.40 (from $2.75) for 2013."
For more ratings news on FirstEnergy Corp. click here and for the rating history of FirstEnergy Corp. click here.
Shares of FirstEnergy Corp. closed at $42.02 yesterday.
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