Fly News Breaks for July 19, 2019
Jul 19, 2019 | 09:39 EDT
As previously reported, BofA Merrill Lynch analyst Julien DuMoulin-Smith downgraded PSEG to Neutral from Buy following industry conversations that reaffirmed his caution around oversupply on the PJM power market. He still has concerns about downward pressure on PJM capacity prices next month and has less confidence in a sustained recovery in PJM prices, the analyst said. He maintains his $65 price target on PSEG shares.
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