trending Market Intelligence /marketintelligence/en/news-insights/trending/sTh8lYaSTez46thjfzZfDw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Morgan Stanley upgrades PSEG on anticipated rate base growth

Q3: U.S. Solar and Wind Power by the Numbers

Path to Carbon-Free Power Generation by 2035

The Growing Importance of Data Centers for European & U.S. Renewable Projects

CAISO and ERCOT Power Forecasts by the Hour


Morgan Stanley upgrades PSEG on anticipated rate base growth

MorganStanley & Co. LLC is looking more positively on 'sfuture prospects in upgrading the company to "equal-weight" from"underweight" and updating the price target to $47 from $43.

In aJuly 13 investor note, the firm's analysts said they expect strong post-2017earnings power for PSEG's utility, Public Service Electric and Gas Co., estimating regulatedrate base will grow to $21 billion in 2020 from $15 billion in 2016 throughinvestments in transmission and distribution, solar and pipeline replacements.

Theanalysts added that with PSEGPower LLC generation fleet mostly in PJM's EMAAC and PS zones, itwould benefit from an anticipated rebound of capacity prices next year.

MorganStanley also cited the stock's recent underperformance for the upgrade.According to the firm, PSEG shares underperformed the broader utilities groupby 7.5% in the past three months.