Jefferies Downgrades Public Service Enterprise Group Inc. (PEG) to Hold

Jefferies downgraded Public Service Enterprise Group Inc. (NYSE: PEG) from Buy to Hold with a price target of $39.00 (from $41.00).

Analyst Paul Fremont commented, "We are downgrading PEG to Hold from Buy based on our expectation that the Western portion of PJM will be more levered to power price improvement versus the East. Most of the planned new construction is in PJM East where PSEG Power's plants are located and most of the scheduled coal plant retirements are in the western part of PJM."

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 $38.30 yesterday.

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