FirstEnergy price target lowered to $44 from $50 at Scotiabank

Scotiabank lowered the firm’s price target on FirstEnergy (FE) to $44 from $50 and keeps an Outperform rating on the shares. While the firm appreciates the reset of expectations, it also understands the negative market reaction, the analyst tells investors. The cut to 2025 EPS guidance is likely split between lower-quality earnings contributors and unexpected headwinds, the firm adds. Scotiabank remains drawn to the stock’s discount and believes the company doesn’t need a huge win in its Ohio rate case, just not a punitive outcome.