Goldman Sachs initiated coverage of FirstEnergy with a Buy rating and $45 price target. The analyst expects the company to grow earnings at an above-average pace, modeling rate base growth of 8% on average and earnings growth of 8% on average through 2027. This is driven in part by FirstEnergy’s significant leverage to transmission, the analyst tells investors in a research note. The firm views the company’s core business favorably, and expects investor sentiment to improve as the “external noise surrounding the stock is resolved.”
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Read More on FE:
- FirstEnergy Expands Partnership with Brookfield, Adjusts Control
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- FirstEnergy management to meet with Seaport Research
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