Upgrade Alert for FirstEnergy (FE)
FirstEnergy (NYSE:FE) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $32.87 on volume of 4.7 million shares, below average daily volume of 5.4 million.
FirstEnergy Corp. is a public utility holding company. The Company's subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, exploration and production of oil and natural gas, transmission and marketing of natural gas, and energy management and other energy-related services.
Potential upside of 8.7% exists for FirstEnergy, based on a current level of $32.87 and analysts' average consensus price target of $35.73. FirstEnergy shares should encounter resistance at the 50-day moving average (MA) of $34.96 and support at its 200-day MA of $32.76.
FirstEnergy share prices have moved between a 52-week high of $37.05 and a 52-week low of $28.89 and closed yesterday at 14% above that low price at $32.87 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.
SmarTrend is monitoring the recent change of momentum in FirstEnergy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of FirstEnergy in search of a potential trend change.
Keywords: analyst upgrades/downgrades firstenergy