On Wednesday, KeyBanc has maintained its focus on FirstEnergy Corp. (NYSE:FE) as an attractive investment within the utility sector.
"FE remains our value pick, as we believe the ultimate resolution of regulatory proceedings in OH will be constructive," analysts said in their "Utilities 2025 Sector Outlook" note.
The analysts from KeyBanc expressed confidence that the resolution of these proceedings would be beneficial for the company.
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The broader utility sector was also addressed, with the analyst expressing a positive outlook but with a note of caution. The caution stems from the expectation of conflicting macro trends that could affect the sector in 2025. Despite this, the overall sentiment towards the utility space remains favorable.
KeyBanc has made adjustments to several price targets within the sector. Specifically, FirstEnergy's price target was lowered slightly to $47 from the previous target of $48. Portland General Electric Company (NYSE:NYSE:POR) also experienced a price target reduction, moving from $52 to $51. On the other hand, Wisconsin Energy Corporation (NYSE:NYSE:WEC) and Xcel Energy Inc. (NYSE:NASDAQ:XEL) saw their price targets increase. WEC's price target was raised to $109 from $108, and XEL's target went up significantly from $74 to $79.
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