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PEG

PSEG

$59.35

0.625 (1.06%)

, EXC

Exelon

$49.28

0.41 (0.84%)

14:37
04/18/19
04/18
14:37
04/18/19
14:37

Deutsche Bank ups PSEG, Exelon targets after New Jersey approves nuclear ZECs

After New Jersey's Board of Public Utilities voted 4-1 to grant Zero Emissions Credits, or ZECs, worth approximately $10/MWh to all three of New Jersey's nuclear plants, Deutsche Bank analyst Jon Arnold raised his price target on shares of PSEG (PEG) to $63 from $62 and his target on Exelon (EXC) to $55 from $54. The credits are expected to add about $200M per year for the next three years to majority owner PSEG's revenue and Salem plant co-owner Exelon is entitled to its $100M per year share, explained the analyst. ZECS are now actually granted in New Jersey and have previously been granted in Illinois and were recently "affirmed as legal all the way up to the SCOTUS" after the top court opted not to take up related challenges, Arnold noted.

PEG

PSEG

$59.35

0.625 (1.06%)

EXC

Exelon

$49.28

0.41 (0.84%)

  • 30

    Apr

  • 02

    May

PEG PSEG
$59.35

0.625 (1.06%)

02/28/19
DBAB
02/28/19
DOWNGRADE
DBAB
Hold
PSEG downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Jonathan Arnold downgraded PSEG to Hold.
02/28/19
WELS
02/28/19
NO CHANGE
Target $66
WELS
Outperform
PSEG price target raised to $66 from $60 at Wells Fargo
Wells Fargo analyst Neil Kalton raised his price target for PSEG to $66 from $60 due to the impact of higher regulated earnings along with meaningfully higher peer group multiples since his last valuation refresh. The analyst reiterates an Outperform rating on the shares.
02/28/19
02/28/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Booking Holdings (BKNG) downgraded to Neutral from Overweight at Atlantic Equities and Piper Jaffray, as well as to Perform from Outperform at Oppenheimer. 2. Box (BOX) downgraded to Sector Weight from Overweight at KeyBanc and to Neutral from Buy at Rosenblatt. 3. HP Inc. (HPQ) double downgraded to Underperform from Buy at BofA/Merrill with analyst Wamsi Mohan citing the company's Q1 report last night. 4. PSEG (PEG) downgraded to Hold from Buy at Deutsche Bank. 5. Dollar General (DG) and Big Lots (BIG) were downgraded to Hold from Buy at Deutsche Bank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/19
MZHO
03/13/19
NO CHANGE
Target $61.5
MZHO
Buy
PSEG price target raised to $61.50 from $54 at Mizuho
Mizuho analyst Paul Fremont raised his price target for PSEG to $61.50 from $54 and updating his estimates through 2021 and keeps a Buy rating on the shares.
EXC Exelon
$49.28

0.41 (0.84%)

04/02/19
04/02/19
UPGRADE
Target $57

Outperform
Exelon upgraded to Outperform at Wells Fargo
As previously reported, Wells Fargo analyst Neil Kalton upgraded Exelon to Outperform from Market Perform and raised his price target on the shares to $57 from $50. A key tenant to his thesis is that ExGen's nuclear fleet operates through the end of the units' various license extension periods, which will likely require additional policy support. On that front, the analyst is encouraged by nuclear-related state legislative initiatives.
04/02/19
04/02/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Exelon (EXC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Neil Kalton saying a key tenant to his thesis is that ExGen's nuclear fleet operates through the end of the units' various license extension periods, which will likely require additional policy support. 2. CommScope (COMM) upgraded to Outperform from Neutral at Credit Suisse with analyst Sami Badri citing fundamental strength in the combined business computed in his updated CommScope-Arris (ARRS) merger model with the Arris acquisition expected to close in April 2019. 3. Quest Diagnostics (DGX) and LabCorp (LH) upgraded to Buy from Hold at Jefferies. 4. Hostess Brands (TWNK) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson saying management execution, a turnaround to profitability in the Chicago bakery and improved pricing could return Hostess to "top-tier revenue growth" this year. 5. Amphenol (APH) upgraded to Buy from Hold at SunTrust with analyst William Stein saying in a world of uncertainty, Amphenol offers more dependable upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
GSCO
04/09/19
UPGRADE
GSCO
Neutral
Exelon upgraded to Neutral from Sell at Goldman Sachs
04/09/19
GSCO
04/09/19
UPGRADE
Target $47
GSCO
Neutral
Exelon upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Michael Lapides upgraded Exelon to Neutral from Sell at Goldman and raised his price target for the shares to $47 from $43. The analyst sees higher potential nuclear revenue for the company due to potential zero emission credits or subsidies in Pennsylvania and Illinois. Further, the analyst increased his multiples for Exelon's segments to reflect "above average growth" at its core regulated businesses.

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STOK

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AUTL

Autolus Therapeutics

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  • 09

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AGIO

Agios Pharmaceuticals

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ZIOP

Ziopharm

$5.16

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  • 08

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TGTX

TG Therapeutics

$7.11

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  • 09

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KPTI

Karyopharm

$16.30

-1.15 (-6.59%)

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IPHA

Innate Pharma

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REGN

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BPMC

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PCG

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  • 08

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RHHBY

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SRRA

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