UPDATE: Jefferies Downgrades FirstEnergy to Underperforms on Rating Agency Headwinds

Jefferies downgraded FirstEnergy Corporation (NYSE: FE ) from Hold to Underperform and lowers the price target from $42.50 to $33.50. Jefferies noted, "We are downgrading FirstEnergy to Underperform based on growing rating agency pressure to enhance the company's credit metrics and regulatory exposure in rate proceedings in West Virginia and