Public Service Enterprise (PEG) Gets a Buy Rating from Morgan Stanley
Morgan Stanley analyst Stephen Byrd maintained a Buy rating on Public Service Enterprise (NYSE: PEG) today and set a price target of $59. The company’s shares opened today at $53.59.
According to TipRanks.com, Byrd is a 3-star analyst with an average return of 2.4% and a 60.4% success rate. Byrd covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, American Electric Power, and Nextera Energy Partners.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Public Service Enterprise with a $58.20 average price target, an 8.6% upside from current levels. In a report issued on October 9, Citigroup also upgraded the stock to Buy with a $60 price target.
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Public Service Enterprise’s market cap is currently $27.48B and has a P/E ratio of 12.71. The company has a Price to Book ratio of 1.94.
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Public Service Enterprise Group, Inc. is a holding company, which engages in the provision of electric and gas services. It operates through the Public Service Electric & Gas Co. (PSE&G) and Power segments. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.