Morgan Stanley Still Prefers FirstEnergy (FE) Even as Utility Stocks Lag the Market

With short percentage of shares outstanding at 3.94%, FirstEnergy Corp. (NYSE:FE) is among the 7 Best EV Charging Infrastructure Stocks to Buy Now.

On June 24, Morgan Stanley raised its price target on FirstEnergy Corp. (NYSE:FE) to $52 from $51 while maintaining an Overweight rating on the shares. The adjustment came as part of the firm’s broader review of regulated and diversified utility companies across North America. While Morgan Stanley noted that utility stocks generally underperformed the S&P 500 during the month, the firm continues to view FirstEnergy favorably relative to peers, reflecting confidence in the company’s regulated utility operations and long-term investment profile.

Earlier, on June 11, UBS analyst William Appicelli increased his price target on FirstEnergy Corp. (NYSE:FE) to $51 from $50 while maintaining a Neutral rating. The revised target reflects a modestly more constructive outlook for the company and highlights confidence in management’s ability to execute on operational and financial objectives despite ongoing challenges facing the utility sector. The update also underscores the market’s recognition of FirstEnergy’s efforts to strengthen its business through infrastructure investments and disciplined capital allocation.

Founded in 1997 and headquartered in Akron, Ohio, FirstEnergy Corp. (NYSE:FE) is an electric utility company that generates, transmits, and distributes electricity to millions of customers throughout the Midwest and Mid-Atlantic regions. The company is also involved in supporting electric vehicle adoption through charging infrastructure investments, specialized EV rate programs, and participation in the Electric Highway Coalition, which seeks to expand long-distance charging accessibility across North America.

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