PSEG initiated with an In Line at Evercore ISI

Evercore ISI initiated coverage of PSEG (PEG) with an In Line rating and $83 price target There are avenues for PSE&G to meaningfully grow its rate base and the company has the potential to play a part within the PJM data center build out, though the current legislative environment seems somewhat prohibitive, the analyst tells investors in a research note. The firm adds however that the gubernatorial election within the state of NJ could serve as positive catalyst and would note PSE&G’s very constructive relationship with the state.