Barclays Adjusts PSEG's Price Target Ahead of Q2 Earnings

Barclays has adjusted its price target for PSEG (PEG) to $82 from $83, maintaining an Equal Weight rating ahead of Q2 earnings. The average target price for PSEG is $86.83, implying a 6.44% upside. The average brokerage recommendation is 2.5, indicating "Outperform" status.

Barclays has revised its price target for Public Service Enterprise Group Incorporated (PSEG) to $82, down from $83, while maintaining an Equal Weight rating ahead of the company's Q2 earnings report. This adjustment comes as part of Barclays' broader review of the utilities sector.

The average target price for PSEG, based on analyst estimates, stands at $86.83, indicating a potential 6.44% upside from the current price. The average brokerage recommendation for PSEG is 2.5, signifying an "Outperform" status, according to the consensus among 20 brokerage firms.

PSEG, which operates in the electric and gas utility business, has seen a mix of analyst opinions. While some have downgraded their ratings, others have maintained their optimism. For instance, Zacks Research recently lowered its Q2 2025 EPS estimates for PSEG to $0.72 per share from $0.75 [1].

The company's latest earnings report, released on April 30, showed a 16.7% increase in revenue to $3.22 billion, meeting analysts' consensus estimates. However, several research firms have revised their price targets and ratings for PSEG in recent months, reflecting varying views on the company's performance and future prospects.

Barclays' adjustment in PSEG's price target is part of a broader trend in the utilities sector, where analysts are closely monitoring earnings reports and financial performance. As PSEG prepares to release its Q2 earnings, investors will be closely watching for updates on the company's financial health and future growth prospects.

References:
[1] https://www.marketbeat.com/instant-alerts/zacks-research-issues-pessimistic-outlook-for-peg-earnings-2025-07-03/