Jefferies Lifts PT/Est on FirstEnergy (FE), Still Sees Downside
9:20 AM ET, 04/18/2013 - Street Insider
Jefferies raised estimates and its price target on FirstEnergy Corp. (NYSE: FE) from $33.50 to $38.50 but maintained an Underperform rating.
"We are adjusting quarters including a $0.15 increase in our 1Q13 EPS estimate to $0.70; a $0.05 decrease in our 3Q13 estimate to $1.05 and a $0.10 decrease to our 4Q13 estimate to $0.75," analyst Paul B. Fremont comments. "The change in our 1Q13 estimate is driven mostly by hedge assumptions and cold March temperatures."