Scotiabank raised the firm’s price target on FirstEnergy (FE) to $49 from $46 and keeps an Outperform rating on the shares. The firm expects regulated utility stocks to continue to struggle in the near term as rising investor sentiment continues to be tougher to fight, the analyst tells investors. The firm remains bullish on the underlying backdrop, with demand for electricity accelerating, but few utilities are converting these opportunities into upside to EPS.
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