Credit Suisse Reiterates Neutral, Raises Price Target On Public Service Enterprise Following 2015 Analyst Day

Dwight Einhorn

Tue, Mar 3, 2015, 10:24 AM

In a report published Tuesday, Credit Suisse analyst Dan Eggers reiterated a Neutral rating on Public Service Enterprise Group Inc. (NYSE: PEG), and raised the price target from $43.00 to $44.00.

In the report, Credit Suisse noted, "The 2015 Analyst Day had all the hallmarks of past analyst days: a focus on strong utility growth (10-11% for 5 years) that was a bit better than previously modeled plus some prospective kickers (gas modernization), a solid Power story that offers more consistency than leverage to a recovery, and a balance sheet with considerable financial flexibility that seems most likely (under) used to support ~5% annual dividend growth but nothing extravagant like a big buyback or acquisitions. We like PEG for the stability, but our view of a more robust power market recovery on the horizon favors other names more."

Public Service Enterprise closed on Monday at $40.94.

Latest Ratings for PEG

Feb 2015	Jefferies	Maintains		Hold
Feb 2015	Barclays	Maintains		Equal-weight
Jan 2015	Goldman Sachs	Upgrades	Sell	Neutral

View More Analyst Ratings for PEG
View the Latest Analyst Ratings

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Credit Suisse Reiterates Neutral, Raises Price Target On Public Service Enterprise Following 2015 Analyst Day

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