Market Overview

UPDATE: BMO Capital Raises PT on Public Service Enterprise Group Following Analyst Conference

Share:
Related PEG
PSEG Solar Source To Acquire 12.9 MW Maryland Solar Project From Juwi
Wunderlich Downgrades Oil Players, Sees 500 Rigs Idling Soon

In a report published Monday, BMO Capital Markets reiterated its Market Perform rating on Public Service Enterprise Group (NYSE: PEG), and raised its price target from $33.00 to $35.00.

BMO Capital Markets noted, “We believe the company's Energy Strong filing, is well aligned with the views of policymakers and legislators who wish to see significantly enhanced storm recovery response from the utilities especially in the wake of super storm Sandy, which devastated the state in 2012. Backed by robust utility capex, we expect regulated EPS growth rate in the low to mid-teens through 2017. In addition, with the expiration of certain transition charges, PEG should be able to implement the ES program while keeping customers' rates roughly flat. We further note that about 75%-81% of the capex plan through 2017 is subject to contemporaneous rate recovery, which should minimize regulatory lag, in our view.”

Public Service Enterprise Group closed on Friday at $32.85.

Latest Ratings for PEG

DateFirmActionFromTo
Jan 2015Goldman SachsUpgradesSellNeutral
Dec 2014Deutsche BankMaintainsBuy
Oct 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for PEG
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

Related Articles (PEG)

Around the Web, We're Loving...

Get Benzinga's Newsletters