The revised price target reflects Jefferies' analysis of the company's growth prospects and the potential impact of external factors on its financial outlook. FirstEnergy (NYSE:FE)'s stock performance in the coming months may be influenced by the resolution of its Ohio cases and the company's ability to achieve its projected rate base growth.

Apple shares fell Tuesday after Jefferies downgraded the stock to an “underperform” from “hold” on Monday, noting that flagging iPhone sales and weak demand for its artificial intelligence (AI) features in newer models would lead the tech giant to undershoot quarterly revenue forecasts.