Morgan Stanley Feels Confident About Public Service Enterprise Ahead of BGS Auction

In a report published Tuesday, Morgan Stanley analyst Stephen C. Byrd reiterated an Underweight rating and $30.00 price target on Public Service Enterprise PEG. In the report, Morgan Stanley noted, “This week's auction will come in at $94/MWh based on our forecast, within consensus. We also note that recent weather volatility, plant retirements, and declining market liquidity may create upside risk. However, the impact to PEG's profitability will likely be small given limited hedging here.” Public Service Enterprise closed on Monday at $33.91.
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Posted In: Analyst ColorReiterationAnalyst RatingsMorgan StanleyStephen C. Byrd
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