BMO Capital raised the firm’s price target on PSEG to $74 from $69 and keeps a Market Perform rating on the shares. The company’s expected Q2 earnings decline is well telegraphed from the Q1 call, reflecting Q4 weighted shaping at Power with the full-year contribution unchanged, the analyst tells investors in a research note. The firm expects investors to focus on the NJ rate case process, power market fundamentals and an updated outlook for data center-related contracts, BMO added.
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