PSEG price target lowered to $95 from $100 at Wells Fargo

Wells Fargo lowered the firm’s price target on PSEG (PEG) to $95 from $100 and keeps an Overweight rating on the shares. The firm highlights positive 2025 EPS guidance and 5-year outlook, with the company affirming the 5%-7% CAGR off of a higher base. While there are no updates on the nuclear data center/contract strategy, the thesis remains very much intact, Wells says.