Jefferies upgraded PSEG (PEG) to Buy from Hold with a price target of $90, up from $89. The firm cites valuation for the upgrade, saying PSEG is the worst-performing non-California utility stock in 2025. Investor concerns of rate freezes and regulatory headwinds ignore probable storage investment alignment, the analyst tells investors in a research note. Jefferies the company as “politically adept” and believes it has the tools to deliver customer savings.
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