FirstEnergy price target raised to $39 from $38 at BofA

BofA analyst Julien Dumoulin-Smith raised the firm’s price target on FirstEnergy to $39 from $38 and keeps an Underperform rating on the shares. The firm expects "a quiet first quarter," but still sees downside to FY24 consensus EPS and guidance. The firm maintains its estimates mostly in-line with prior forecasts and cites mark-to-market changes for its increased price target.