ISI Group Maintains Hold Rating and $48.50 PT on FirstEnergy

A report from ISI reiterates its Hold rating and $48.50 price target on FirstEnergy (NYSE: FE).

The report states, “The approval, modification or rejection of AEP's Electric Service Plan filings in Ohio could impact whether FE can achieve its targeted market share goals, as AEP is seeking non-bypassable charges that could make taking retail market share more difficult in the short run. We expect resolution in December."

FE closed yesterday at $44.97.