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Fly News Breaks for July 29, 2019
PEG
Jul 29, 2019 | 06:24 EDT
Citi analyst Praful Mehta downgraded PSEG to Neutral from Buy with an unchanged price target of $61. The analyst reduced his Power valuation to reflect the lower PJM forward curves. The drop in forward curves is driven by fundamental demand/supply dynamics and gas prices, Mehta tells investors in a research note. The analyst says he waits to hear how PSEG "looks to tackle weaker market dynamics."
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