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UPDATE: Jefferies Reduces PT to $45 on FirstEnergy on Pulled Guidance

Related FE
FirstEnergy Ohio Utilities To Conduct Competitive Auction To Procure Electric Generation Supply
Earnings Scheduled For November 4, 2014

Jefferies reiterated its Hold rating on FirstEnergy (NYSE: FE) and lowered its price target from $49.50 to $45.

Jefferies noted, "FirstEnergy withdrew its 2013 earnings guidance of $3.10-$3.40 indicating a significant number of changes impacting its competitive business segment. The company hopes to refresh 2013 guidance before its analyst conference scheduled in beginning of 2013. 2Q12 earnings were $0.60 below consensus estimate of $0.64."

FirstEnergy closed at $46.14 on Tuesday.

Latest Ratings for FE

DateFirmActionFromTo
Nov 2014BarclaysMaintainsEqual-weight
Nov 2014Bank of AmericaMaintainsNeutral
Nov 2014Deutsche BankMaintainsHold

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Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

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