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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PEG:
- PSEG price target raised to $70 from $68 at Wells Fargo
- PSEG price target raised to $68 from $65 at Barclays
- PSEG price target raised to $72 from $70 at RBC Capital
- PSEG to Showcase Operations and Financial Insights in Investor Meetings
- Public Service Enterprise’s New Technology Risk – A Cause for Worry?