PSEG price target raised to $80 from $65 at Mizuho

Mizuho raised the firm’s price target on PSEG to $80 from $65 and keeps a Buy rating on the shares. The analyst believes the company continues to offer a defensible 5%-7% utility growth story with no external equity needs that is supported by the unregulated nuclear business that has the ability to contract long term post 2025. The firm says the stock offers a positive risk/reward at these levels.