Goldman Sachs Downgrades Public Service Enterprise Group Inc. (PEG) to Neutral

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Goldman Sachs downgraded Public Service Enterprise Group Inc. (NYSE: PEG) from Buy to Neutral with a price target of $33.

The firm cited lower expected natural gas/power prices and lower output from the Hudson & Mercer coal plants. In addition, they cited a lower applied EV multiple for the generation segment, given potential downside risk in the upcoming New Jersey BGS auction in February 2012

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 $32.65 yesterday, with a 52 week range of $27.97-$35.48.

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