Deutsche Bank Downgrades FirstEnergy Corp. (FE) to Hold
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Price: $47.41 +1.22%
Rating Summary:
16 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
16 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank downgraded FirstEnergy Corp. (NYSE: FE) from Buy to Hold with a price target of $43.00 (from $47.00).
The firm comments, "We continue to see value in FE stock at current prices and note the significant 19% YoY increase in EPS embedded in our initial 2015E of $3.75, driven primarily by super-premium ATSI capacity prices (which we view as unlikely to repeat). However, heading into 2013 we prefer a more narrow focus among power-levered names given risks of continued low gas prices alongside a mild winter and a fairly opaque power market recovery due in part to surprisingly weak demand trends. Additionally, we see a less attractive catalyst profile for FE in 2013 than Buy-rated peer EXC."
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 $41.23 yesterday.
The firm comments, "We continue to see value in FE stock at current prices and note the significant 19% YoY increase in EPS embedded in our initial 2015E of $3.75, driven primarily by super-premium ATSI capacity prices (which we view as unlikely to repeat). However, heading into 2013 we prefer a more narrow focus among power-levered names given risks of continued low gas prices alongside a mild winter and a fairly opaque power market recovery due in part to surprisingly weak demand trends. Additionally, we see a less attractive catalyst profile for FE in 2013 than Buy-rated peer EXC."
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 $41.23 yesterday.
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