Goldman Sachs Downgrades FirstEnergy Corp. (FE) to Sell, Cuts PT/Est.

Goldman Sachs downgraded FirstEnergy Corp. (NYSE: FE) from Neutral to Sell with a price target of $40.00 (from $46.00).

The firm cited, "(1) significant downside risks to consensus estimates, where we are 3%/13%/9% below on FY13/14/15, (2) tough fundamentals as retail margins remain weak for FE's competitive segment and limited rate increases at FE's regulated subsidiaries, and (3) potential negative catalysts from PJM planning parameters in February 2013.

The firm lowered 2012-15 EPS estimates for FE to $3.32/$2.90/$2.70/$3.36 from $3.34/$2.99/$3.04/$3.85

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 $40.12 yesterday.

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