PSEG price target raised to $72 from $70 at RBC Capital

RBC Capital analyst Shelby Tucker raised the firm’s price target on PSEG to $72 from $70 and keeps an Outperform rating on the shares. The company looks to continue their good track record of avoiding pitfalls, like their prescient exit from offshore wind, while delivering shareholder value, like their decision to keep their nuclear assets last year, the analyst tells investors in a research note. Assuming no surprises from the ongoing rate case, PSEG should continue providing updates to New Jersey’s electrification progress and the opportunities from it throughout the year, the firm added.