Jefferies Maintains a 'Hold' on FirstEnergy (FE); Another Crack In The Wall
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Price: $45.96 -2.59%
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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Jefferies maintains a 'Hold' on FirstEnergy Corp. (NYSE: FE) price target of $45.00.
Jefferies analyst says, "Contractors replacing the reactor head at Davis Besse have discovered a small crack in the thick concrete on the outside of the reactor's containment building. The NRC indicated that the issue will have to be resolved before FE restarts the reactor."
"The company and the NRC are currently investigating the significance of the crack; whether the cutting performed during the current reactor replacement process created it or whether the crack was already in the concrete before the project began...The company has replacement power insurance with the 26-week waiting period. After the waiting period, the insurance provides for a recovery of $3.5 million per week, or up to $490 million in total, for 140 weeks."
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 $43.76 yesterday.
Jefferies analyst says, "Contractors replacing the reactor head at Davis Besse have discovered a small crack in the thick concrete on the outside of the reactor's containment building. The NRC indicated that the issue will have to be resolved before FE restarts the reactor."
"The company and the NRC are currently investigating the significance of the crack; whether the cutting performed during the current reactor replacement process created it or whether the crack was already in the concrete before the project began...The company has replacement power insurance with the 26-week waiting period. After the waiting period, the insurance provides for a recovery of $3.5 million per week, or up to $490 million in total, for 140 weeks."
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 $43.76 yesterday.
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