Morgan Stanley raised its price target on Public Service Enterprise Group to $92 from $89 while maintaining an Overweight rating, implying over 11% upside. The revision followed the firm's updated price objectives for North American regulated and diversified utilities and independent power producers, after the sector fell 5.5% in May against a 5.1% gain in the S&P 500. Public Service Enterprise Group exceeded first-quarter estimates and reaffirmed its 2026 adjusted operating earnings guidance of $4.28 to $4.40 per share, along with a long-term adjusted earnings growth outlook of 6% to 8% through 2030 driven by regulated investments and nuclear generation cash flows.
Public Service Enterprise Group IncMorgan Stanley raised price target to $92 with Overweight rating, implying over 11% upside, and the company exceeded Q1 estimates and reaffirmed guidance.
Morgan Stanley