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Guggenheim Downgrades FirstEnergy Corp. (FE) to Neutral; 'Optics Worsen as Additional Details on HB6 Scandal Emerge'
July 22, 2020 6:37 AM EDTGuggenheim analyst Shahriar Pourreza downgraded FirstEnergy Corp. (NYSE: FE) from Buy to Neutral with a price target of $36.00 (from $51.00), saying the optics worsen related to the emerging HB6 scandal.
The analyst commented, "Our initial take on the emerging HB6 scandal this morning following our... More
FirstEnergy (FE) received subpoenas in connection with investigation surrounding Ohio House Bill 6
July 21, 2020 4:19 PM EDTFirstEnergy Corp. (NYSE: FE) today issued the following statement:
This afternoon, FirstEnergy Corp. (NYSE: FE) received subpoenas in connection with the investigation surrounding Ohio House Bill 6. We are reviewing the details of the investigation and we intend to fully cooperate.
... More
FirstEnergy (FE) Readthrough 'Limited', Reaction 'Overdone' - Guggenheim
July 21, 2020 1:25 PM EDTGuggenheim analyst Shahriar Pourreza weighed in on FirstEnergy (NYSE: FE), saying the investigation readthrough is limited and the stock reaction is overdone with the current information.
The analyst commented, "While the arrest of lobbyists and Ohio House officials on bribery charges related to the... More
FirstEnergy (FE) Defended at Wells Fargo
July 21, 2020 1:11 PM EDTFirstEnergy (NYSE: FE) defended at Wells Fargo, calling the sell-off an overreaction.
... MoreBribery Investigation to Create Overhang on FirstEnergy (FE) - KeyBanc
July 21, 2020 11:53 AM EDTThe Ohio bribery investigations is likely to create near-term overhang in FirstEnergy (NYSE: FE), KeyBanc analyst Sophi Karp commented.
Kapr commented, "According to media reports, earlier today OH House Speaker Larry Householder was arrested in connection with a bribery investigation related... More
