UBS analyst Ross Fowler downgraded PSEG to Neutral from Buy with a price target of $66, down from $70. The stock’s risk/reward looks more balanced at current valuations ahead of the company’s important rate case filing in New Jersey in Q4, the analyst tells investors in a research note. After a re-base of the earnings power in Q4, the stock has rallied 15% versus the group and trades at 2% premium on estimated 2025 earnings, says UBS.
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