FirstEnergy price target raised to $44 from $41 at Wells Fargo

Wells Fargo analyst Neil Kalton raised the firm’s price target on FirstEnergy (FE) to $44 from $41 and keeps an Equal Weight rating on the shares. After the noisy Q4 update, which included a negative re-base of EPS guidance, the Q1 update was comparatively uneventful. In the near term, the focus remains squarely on OH as the base rate case is in full swing and energy legislation continues to progress, Wells adds.