Jefferies raises FirstEnergy PT on increased capex forecast
** Jefferies raises price target for electric utility FirstEnergy FE.N to $45 from $43
** New PT represents an upside of 3.2% to the stock's last close on Tuesday
** Brokerage raises PT on management's disclosure of up to a 20% increase in capital increase in the next five-year plan, implying $2.3 billion to $4 billion of incremental investment opportunity
** "Based on the guidance and other developments we see a 7.4% earnings per share compound annual growth rate through 2029" - Jefferies
** Brokerage notes that data center pipeline explosion creates long-term opportunity but near-term conversion visibility is limited
** 7 out of 16 brokerages rate the stock "buy" or higher and 9 "hold", their median PT is $46 - data compiled by LSEG
** As of last close, FE shares up 9.6% YTD
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