PSEG price target raised to $80 from $73 at BofA

BofA raised the firm’s price target on PSEG to $80 from $73 and keeps a Buy rating on the shares. The firm’s analysis indicates potential upside of 31c to EPS in 2027 assuming a data center campus or similar in New Jersey, followed by an incremental 16c in 2028 associated with the Pennsylvania nuclear units, notes the analyst, who contends that the data center opportunity for merchant power is “not fully priced in.”