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.

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

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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