PSEG price target raised to $73 from $66 at BofA

BofA analyst Julien Dumoulin-Smith raised the firm’s price target on PSEG to $73 from $66 and keeps a Buy rating on the shares. PSEG is one of just a handful of U.S. merchant nuclear power owners and the firm believes that the probability of management pursuing a datacenter collocation strategy is much higher after a recent Power, Utilities, & Clean Energy conference, the analyst tells investors. The firm, which estimates that a successful datacenter collocation strategy is worth $4 per share, says its “Street-high” price target, per Bloomberg, equates to 10% potential total return before embedding a data center scenario.