Jefferies: PEG Shares Are Attractive

In a report released this morning, Jefferies said that it believes that Public Service Enterprise Group's (NYSE: PEG) shares are attractive “based on our sum of the parts valuation including P/E for PSE&G and open EV/EBITDA for the company's merchant operations.”

“Governor Christie will likely sign SB2381 into law this week,” Jefferies writes. “[We believe] that the law will be overturned by the FERC in a procedural challenge expected to be filed by merchant generators.”

Public Service Enterprise Group closed Monday at $32.70.