Jefferies maintains its Buy rating on Public Service Enterprise Group PEG and lowers its price by $2.50 to $35 on BGS auction prices realized below last year's level.
Jefferies says, "The 2012 BGS auction price realized for the PSE&G zone was $83.88, which is 11% below the price realized in the 2011 BGS auction. The lower auction result coupled with the decline in forward commodity prices for gas and power results in a downward revision to our earnings estimates."
PEG closed at $30.38 a share yesterday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in