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Canadian Energy Company Revisited by Morgan Stanley Analyst

In a report released today, Stephen Byrd from Morgan Stanley maintained a Buy rating on FirstEnergy (FEResearch Report), with a price target of $49.00. The company’s shares closed last Thursday at $37.70.

According to TipRanks.com, Byrd is a 5-star analyst with an average return of 9.8% and a 57.0% success rate. Byrd covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, American Electric Power, and Nextera Energy Partners.

Currently, the analyst consensus on FirstEnergy is a Moderate Buy with an average price target of $46.81, implying a 24.2% upside from current levels. In a report issued on July 19, KeyBanc also maintained a Buy rating on the stock with a $47.00 price target.

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FirstEnergy’s market cap is currently $21.52B and has a P/E ratio of 17.50.

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FirstEnergy Corp. engages in the generation, transmission and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission and Corporate. The Regulated Distribution segment distributes electricity through FirstEnergy’s utility operating companies, serving various customers. The Regulated Transmission segment transmits electricity through transmission facilities owned and operated by FirstEnergy’s utilities and the regulatory assets. The Corporate segment reflects corporate support not charged to FE’s subsidiaries, interest expense on FE’s holding company debt and other businesses that do not constitute an operating segment. FirstEnergy was founded in 1996 and is headquartered in Akron, OH.

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