Deutsche Bank Downgrades Public Service Enterprise Group Inc. (PEG) to Hold, Cuts Numbers
Tweet
Share
E-mailGet Alerts PEG Hot Sheet
Price: $64.28 -1.41%
Rating Summary:
11 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 51
Rating Summary:
11 Buy, 16 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 14 | New: 51
Join SI Premium – FREE
Deutsche Bank downgraded Public Service Enterprise Group Inc. (NYSE: PEG) from Buy to Hold with a price target of $31 (down from $35).
The firm lowered 2013-14 EPS estimates come down $0.20/$0.30 to $2.35/$2.40 due to their now lower commodity price assumptions, creating a flattish earnings outlook.
They comment, "We continue to see appeal in PEG's relatively stronger balance sheet that should enable it to better withstand a prolonged power market downturn. However, the unregulated power business is simply too large a piece of the consolidated entity, and the outlook for this side of the business has deteriorated considerably."
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 $29.98 yesterday.
The firm lowered 2013-14 EPS estimates come down $0.20/$0.30 to $2.35/$2.40 due to their now lower commodity price assumptions, creating a flattish earnings outlook.
They comment, "We continue to see appeal in PEG's relatively stronger balance sheet that should enable it to better withstand a prolonged power market downturn. However, the unregulated power business is simply too large a piece of the consolidated entity, and the outlook for this side of the business has deteriorated considerably."
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 $29.98 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Johnson & Johnson (JNJ) PT Lowered to $155 at Stifel
- KLA Corporation (KLAC) PT Raised to $760 at Stifel
- Lam Research (LRCX) PT Raised to $1,050 at Stifel
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst PT Change, DowngradesRelated Entities
Deutsche Bank, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
