PSEG price target raised to $109 from $103 at Morgan Stanley

Morgan Stanley raised the firm’s price target on PSEG (PEG) to $109 from $103 and keeps an Overweight rating on the shares. The firm is updating its price targets for Regulated & Diversified Utilities / IPPs in North America under its coverage, the analyst tells investors. In September, utilities outperformed the S&P, the firm notes. Heading into Q3, the firm expects a key focus for utilities to be on the evolution of data center pipelines and is watching for commentary around interconnection times.