In recent trading, shares of Public Service Enterprise Group Inc (Symbol: PEG) have crossed above the average analyst 12-month target price of $90.41, changing hands for $90.49/share. When a stock reaches the target set by an analyst, there are typically two possible reactions: either downgrade the valuation or adjust the target price higher. The analyst’s response may often depend on recent developments in the company’s fundamentals that are driving the stock price up. If the outlook is positive for the company, raising the price target might be warranted.
Within the Zacks coverage universe, 17 different analysts have contributed to the average price target for Public Service Enterprise Group Inc. However, this average represents a range of opinions. For instance, one analyst has set a lower target at $73.00, while another has a much more bullish outlook at $102.00. Notably, the standard deviation among these forecasts is $8.768, indicating diverse views among analysts.
The purpose of evaluating the average PEG price target is to reflect a collective perspective, drawing from various analysts instead of relying on a single expert’s opinion. With PEG surpassing the average target price of $90.41/share, this development gives investors good reason to reconsider their positions in the company. They must ask themselves whether $90.41 is merely a stepping stone toward even higher targets, or if the valuation has become stretched, prompting a reevaluation of their investment strategy. Below is a breakdown of the current analyst ratings for Public Service Enterprise Group Inc.
| Recent PEG Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 10 | 10 | 10 | 10 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 9 | 9 | 9 | 8 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.95 | 1.95 | 1.95 | 1.89 |
The average rating in the table ranges from 1 to 5, where 1 indicates a Strong Buy and 5 signifies a Strong Sell. Data for this article was obtained from Zacks Investment Research via Quandl.com. To access the latest Zacks research report on PEG, visit their website.
10 ETFs With Most Upside To Analyst Targets »
Also see:
• Cheap Energy Stocks
• XLSR Videos
• RMTI Insider Buying
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
