Macquarie Neutral On FirstEnergy (FE)

Symbols: AYE, FE
Tags: Macquarie
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Macquarie downgraded FirstEnergy (NYSE: FE) from “outperform” to “neutral.” The target price for FE is set to $43.

According to Macquarie, the price FE is paying for acquiring Allegheny (NYSE: AYE) is extremely high. FE’s shares slipped 0.21% to $39.51 in pre-market trading.

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