Morgan Stanley analyst David Arcaro raised the firm’s price target on PSEG to $83 from $78 and keeps an Overweight rating on the shares. In July, utilities outperformed the S&P’s +1.22% return by 560 bps, the analyst tells investors. The firm notes the company’s improving utility outlook and undervalued merchant power business.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PEG:
- PSEG price target raised to $73 from $62 at Scotiabank
- PSEG price target raised to $87 from $86.50 at Ladenburg
- Morgan Stanley sees bigger positive impact to Vista, CEG from PJM auction results
- PSEG price target raised to $85 from $80 at Argus
- Public Service Enterprise Highlights H1 2024 Financial Results
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue