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Fly News Breaks for April 16, 2018
PEG
Apr 16, 2018 | 06:57 EDT
BofA/Merrill analyst Julien Dumoulin-Smith upgraded PSEG to Buy and raised his price target for the shares to $56 from $51. The analyst sees "meaningful upside" in the shares despite the recent rally. New Jersey's passing of the zero emissions credits bill last week not only benefits PEG Power's nuclear units Salem and Hope Creek, but also creates an opportunity for further capex expansions on the renewable side, Dumoulin-Smith tells investors in a research note. Further, the analyst sees PJM reforms "gaining traction once more."
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