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Morgan Stanley Believes Public Service Enterprise (PEG) Still Has Room to Grow

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In a report released today, David Arcaro from Morgan Stanley maintained a Buy rating on Public Service Enterprise (PEGResearch Report), with a price target of $80.00. The company’s shares closed last Tuesday at $67.14, close to its 52-week high of $68.37.

According to TipRanks.com, Arcaro is a 1-star analyst with an average return of -2.5% and a 48.5% success rate. Arcaro covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Consolidated Edison, and Eversource Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Public Service Enterprise with a $72.80 average price target, representing a 7.5% upside. In a report issued on March 7, RBC Capital also maintained a Buy rating on the stock with a $72.00 price target.

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Public Service Enterprise’s market cap is currently $33.87B and has a P/E ratio of -51.87.

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Public Service Enterprise Group Incorporated is a diversified energy company. The company engages in the generation, transmission, and distributions of electricity and gas to residential, commercial, and industrial customers in the Northeastern and Mid-Atlantic United States.

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