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RBC Capital Believes Public Service Enterprise (PEG) Still Has Room to Grow

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RBC Capital analyst Shelby Tucker maintained a Buy rating on Public Service Enterprise (PEGResearch Report) on March 7 and set a price target of $72.00. The company’s shares closed last Tuesday at $66.68, close to its 52-week high of $68.06.

According to TipRanks.com, Tucker is a top 100 analyst with an average return of 10.9% and a 78.0% success rate. Tucker covers the Utilities sector, focusing on stocks such as American Electric Power, Chesapeake Utilities, and Edison International.

Currently, the analyst consensus on Public Service Enterprise is a Strong Buy with an average price target of $73.67, an 8.3% upside from current levels. In a report issued on February 25, Wolfe Research also maintained a Buy rating on the stock with a $70.00 price target.

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Based on Public Service Enterprise’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.06 billion and net profit of $445 million. In comparison, last year the company earned revenue of $2.4 billion and had a net profit of $431 million.

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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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