UBS Maintains a 'Neutral' on Public Service Enterprise Group (PEG); Q2 Highlights and Review
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Price: $35.07 --0%
Rating Summary:
0 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 11
Rating Summary:
0 Buy, 15 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 31 | New: 11
Trade PEG Now!
UBS maintains a 'Neutral' on Public Service Enterprise Group Inc. (NYSE: PEG) price target of $32.00 (from $30.00).
Analyst, Julien Dumoulin-Smith, highlighted points include: 1) Tweaking down estimates to reflect latest capex, hedges, MtM, etc...; 2) NJ court delays decision; expect update in 2-weeks on LCAPP; 3) Management confirms HEDD retirements; retires bulk of its peakers in 2015.
Dumoulin-Smith concluded, "After further reviewing our PSEG valuation and estimates, we have opted to increase our price target to $32/share on a higher utility multiple. Our price target remains derived via the average of SOP and DCF analysis. We see PEG as having the most relative downside among hybrid peers given high street EPS projections and recent share price outperformance."
FY12 EPS estimate cut from $2.38 to $2.34 and FY13 from $2.42 to $2.39.
For an analyst ratings summary and ratings history on Public Service Enterprise Group Inc. click here. For more ratings news on Public Service Enterprise Group Inc. click here.
Shares of Public Service Enterprise Group Inc. closed at $33.24 yesterday, with a 52 week range of $27.97-$35.48.
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Analyst, Julien Dumoulin-Smith, highlighted points include: 1) Tweaking down estimates to reflect latest capex, hedges, MtM, etc...; 2) NJ court delays decision; expect update in 2-weeks on LCAPP; 3) Management confirms HEDD retirements; retires bulk of its peakers in 2015.
Dumoulin-Smith concluded, "After further reviewing our PSEG valuation and estimates, we have opted to increase our price target to $32/share on a higher utility multiple. Our price target remains derived via the average of SOP and DCF analysis. We see PEG as having the most relative downside among hybrid peers given high street EPS projections and recent share price outperformance."
FY12 EPS estimate cut from $2.38 to $2.34 and FY13 from $2.42 to $2.39.
For an analyst ratings summary and ratings history on Public Service Enterprise Group Inc. click here. For more ratings news on Public Service Enterprise Group Inc. click here.
Shares of Public Service Enterprise Group Inc. closed at $33.24 yesterday, with a 52 week range of $27.97-$35.48.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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