Morgan Stanley Lifts Price Target on Public Service Enterprise Group (PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG) is included among the 12 Best Utility Stocks to Buy Now According to Hedge Funds.

Public Service Enterprise Group Incorporated (NYSE:PEG) is a predominantly regulated energy company that engages in the provision of electric and gas services.

On June 24, Morgan Stanley upped its price target on Public Service Enterprise Group Incorporated (NYSE:PEG) from $89 to $92, while reaffirming an ‘Overweight’ rating on the shares. The target boost indicates an upside potential of over 11% from the current share price.

The move comes after the analyst firm revised its price objectives for Regulated & Diversified Utilities / IPPs in North America for the month of May. Morgan Stanley noted that the utilities sector fell by 5.5% last month, significantly underperforming the gains of around 5.1% posted by the overall S&P during the period.

Public Service Enterprise Group Incorporated (NYSE:PEG) had a solid start to the year, exceeding estimates in its first quarter. The company reaffirmed its adjusted operating earnings guidance in the range of $4.28 to $4.40 per share for full-year 2026. Moreover, it reiterated its long-term adjusted earnings growth outlook to 6%-8% through 2030, citing robust regulated investments and nuclear generation cash flows as key drivers.

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