UPDATE: Mizuho Securities Upgrades FirstEnergy Corp. (FE) to Buy, Sees Potential for Co to be M&A Candidate, Likes the Valuation

(updated to add analyst comment)

Mizuho Securities upgraded FirstEnergy Corp. (NYSE: FE) from Neutral to Buy with a price target of $36.50 (from $32.50).

Analyst Paul Fremont comments "Now that FirstEnergy has exited its unregulated businesses and has announced an agreement in principal with the FES creditors, we do not anticipate any near-term overhangs on the stock. We believe the stock screens cheap at these levels."

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 $34.11 Friday.

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