Mizuho analyst Anthony Crowdell lowered the firm’s price target on FirstEnergy to $42 from $43 and keeps a Neutral rating on the shares after the company announced an incremental 30% selldown of FE Transmission to Brookfield for $3.5B. The analyst continues to believe FirstEnergy is "working on removing any overhang," but the firm still finds the stock at fair value.
Published first on TheFly
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Read More on FE:
- FirstEnergy Announces $3.5 Billion Equity Capital Agreement to Further Enhance Financial Position and Support Sustainable, Long-Term Growth
- FirstEnergy sells additional 30% interest in FirstEnergy Transmission
- FirstEnergy upgraded to Buy from Neutral at Guggenheim
- FirstEnergy downgraded to Underperform at BofA with another EPS reset expected
- FirstEnergy downgraded to Underperform from Neutral at BofA
