PSEG price target lowered to $94 from $98 at Guggenheim

Guggenheim analyst Shahriar Pourreza lowered the firm’s price target on PSEG (PEG) to $94 from $98 and keeps a Buy rating on the shares after the company reported Q1 EPS in line with consensus, reiterated 2025 EPS guidance and reaffirmed the 5%-7% growth compound annual growth rate from the 2025 base through 2029. Investor focus remains heavily skewed towards data center interconnection upside for Artificial Island nukes and based on the “posturing” from management, the firm does not see an imminent deal, but thinks clarity from FERC “could provide a path for PEG upside,” the analyst added.