Public Service Enterprise Group Inc. (PEG) declined as part of a broader utilities sector pullback during a risk-on market rally. Risk-on rallies typically favor growth and cyclical stocks over defensive sectors like utilities. Morgan Stanley raised its price target on PEG to $92 while maintaining an Overweight rating on the stock. The analyst firm's revised target reflects their assessment of the company's future performance. Despite the positive analyst action from Morgan Stanley, PEG shares moved lower along with other defensive utility names as investors rotated toward riskier assets during the broader market rally.
Read full analysisPublic Service Enterprise Group Inc. (PEG) declined as part of a broader utilities sector pullback during a risk-on market rally. Risk-on rallies typically favor growth and cyclical stocks over defensive sectors like utilities. Morgan Stanley raised its price target on PEG to $92 while maintaining an Overweight rating on the stock. The analyst firm's revised target reflects their assessment of the company's future performance. Despite the positive analyst action from Morgan Stanley, PEG shares moved lower along with other defensive utility names as investors rotated toward riskier assets during the broader market rally.
Public Service Enterprise Group is a New Jersey-based utility holding company that operates one of the largest nuclear fleets in the U.S. through its PSEG Power subsidiary, alongside regulated electric and gas delivery through PSE&G. The company's nuclear assets and proximity to major East Coast data center markets position it at the center of the growing debate over who pays for surging power demand from AI infrastructure. As a defensive utility stock, PEG is particularly sensitive to sector rotation days when investors shift toward growth-oriented names.