Deutsche Bank Comments on Foundation Issues at FirstEnergy's Davis Besse Nuclear Plant in Ohio
Deutsche Bank has published a research report on FirstEnergy (NYSE: FE) after some foundation issues were discovered at FE's Davis Besse plant in Ohio.
In the report, Deutsche Bank writes, "According to overnight press reports a crack has been discovered in the concrete of the outer containment building at FE's Davis Besse nuclear plant in Ohio (DB). The crack, reported to be barely visible, runs ~30 feet vertically and came to light with DB offline to replace the reactor vessel head. This involved cutting a hole in the containment building and the crack was apparently visible on one edge of this opening. At this stage engineers and NRC concrete experts are working to determine the signficance of the crack - whether pre-existing or caused by the ongoing work, for example."
Deutsche Bank maintains its Buy rating and $49 price target on FirstEnergy, which is currently trading down $1.31 from yesterday's $45.04 closing price.
