PSEG price target lowered to $60 from $64 at BMO Capital

BMO Capital analyst James Thalacker lowered the firm’s price target on PSEG to $60 from $64 and keeps a Market Perform rating on the shares. The analyst is updating the firm’s model with a mark to market relative to group multiples. PSGE’s analyst day on Friday was mostly "affirmatory" of the company’s strategy, with some additive incremental disclosures at both the Utility and Power businesses, the firm tells investors in a research note.