Jefferies Raised Price Target on Public Service Enterprise (PEG) to $44 Following a Strong 4Q

Jefferies reiterated a Hold rating on Public Service Enterprise Group Inc. (NYSE: PEG), and raised the price target to $44.00 (from $43.00), following the company's 4Q earnings report. PEG reported EPS of $0.50 vs Consensus of $0.49. Mild weather impacted utility earnings and wholesale power prices, although PSEG Power earnings improved by $0.01.

Analyst Anthony Crowdell commented, "PEG reported 4Q15 EPS of $0.50 vs Consensus of $0.49 and JEF at $0.45. Mild weather impacted utility earnings and wholesale power prices although PSEG Power earnings improved by $0.01. PEG provided 2016 guidance that was inline with our estimate although slightly below Consensus. Recent BGS auction prices of $96.38 continue to demonstrate the attractiveness of PEG's power portfolio and, in our view, provides justification for its best in class valuation."

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 $42.97 yesterday.

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