Jefferies Downgrades FirstEnergy Corp. (FE) to Underperform

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Solar Industries (SOIL:IN) PT Raised to INR23,500 at ICICI Securities
• Indigo Paints (INDIGOPN:IN) PT Raised to INR1,300 at ICICI Securities