FirstEnergy Shares Rise 2.79% Amid Grid Upgrade

FirstEnergy (FE) shares rose 2.79% today, marking the lowest share price since April 2024, with an intraday decline of 1.91%.

Guggenheim recently increased its price target for FirstEnergy shares from $45.00 to $47.00, maintaining a "buy" rating. This move reflects a positive outlook on the company's future performance, which could bolster investor confidence and drive stock price appreciation.

FirstEnergy's subsidiary, Jersey Central Power & Light (JCP&L), announced a major grid infrastructure upgrade on April 8, 2025. This initiative aims to enhance power reliability for over 5,000 customers in northern New Jersey. The project is part of the broader Energize365 program, which involves a $26 billion investment to modernize the grid across six states by 2028. The upgrade includes advanced technologies to minimize outages and a $95 million investment in local infrastructure over three years. This significant investment is expected to improve the company's long-term operational excellence and financial performance, potentially attracting more investors and positively impacting the stock price.