PSEG price target raised to $66 from $60 at BMO Capital

BMO Capital analyst James Thalacker raised the firm’s price target on PSEG to $66 from $60 but keeps a Market Perform rating on the shares. Consensus estimates likely still do not reflect updated Q1 outlooks, but based on BMO’s forecast for Q1 results, PSEG may fair better year over year than its utility peers who have faced more significant weather and interest rate headwinds, the analyst tells investors in a research note. BMO adds however that its neutral stance reflects the stock’s relative valuation to the group given its growth rate compared to PSEG’s peers.