FirstEnergy price target raised to $51 from $48 at Morgan Stanley

Morgan Stanley analyst David Arcaro raised the firm’s price target on FirstEnergy to $51 from $48 and keeps an Overweight rating on the shares. In August, Regulated & Diversified Utilities / IPPs in North America outperformed the S&P’s +2.43% return by 238 bps, the analyst tells investors. With interest rates declining, a potential economic slowdown ahead, and expected data center updates, the firm believes the industry could outperform by approximately 5% but notes the sector’s mixed performance in previous soft landings.