Market Overview

UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Lowers PT on FirstEnergy

Share:
Related FE
FirstEnergy Q1 Earnings Top Views
Bank of America Upgrades FirstEnergy To Buy

In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on FirstEnergy (NYSE: FE), but lowered its price target from $48.00 to $44.00.

BMO Capital noted, “Since management had withdrawn 2013 EPS guidance in August 2012, FE had underperformed the UTY by ~3% (annualized). The reinstated guidance encompasses consensus and our revised estimate and lifts some uncertainty on the stock. We nonetheless remain concerned about the weak outlook for coal generators and expect low gas prices to continue to suppress margins for FE. In addition, we believe the high RPM capacity prices seen in the 2015/2016 auction may not be sustainable with likely new transmission and/or generation projects potentially eating into the ATSI clearing price premium.”

FirstEnergy closed on Thursday at $42.91.

Latest Ratings for FE

DateFirmActionFromTo
May 2015JefferiesMaintainsBuy
Apr 2015Deutsche BankMaintainsHold
Apr 2015Bank of AmericaUpgradesNeutralBuy

View More Analyst Ratings for FE
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (FE)

Around the Web, We're Loving...

Get Benzinga's Newsletters