PSEG price target raised to $96 from $94 at Wells Fargo

Wells Fargo raised the firm’s price target on PSEG (PEG) to $96 from $94 and keeps an Overweight rating on the shares. Following conversations with the companies, the firm revised its Q1 2026 estimates to reflect known and measurable drivers across its regulated utility coverage. Wells also raised its base value multiple to 17.5 times from 17 times.