PSEG price target lowered to $83 from $85 at BMO Capital

BMO Capital lowered the firm’s price target on PSEG (PEG) to $83 from $85 and keeps a Market Perform rating on the shares ahead of the “noisy elections” in New Jersey. There were no material updates on either the status of contracting nuclear units or developments towards PEG building near-term generation assets which would have clearly surprised to the upside, the analyst tells investors in a research note.