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Fly News Breaks for July 3, 2017
FE
Jul 3, 2017 | 07:37 EDT
After holding a call with the company's Chief Nuclear Officer, Morgan Stanley analyst Stephen Byrd says the probability that shareholders would be liable for spent nuclear fuel storage, if FirstEnergy's nuclear plants were to shut down, is remote. The analyst believes risk of nuclear liability is overblown and that FirstEnergy's 27% valuation discount relative to peers is unwarranted. Byrd keeps an Overweight rating on the shares with a $38 price target.
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