Citi Rates PEG Hold

Citi gives Public Service Enterprise Group Inc PEG a hold rating after meeting with the CFO and the President of Energy Resources and Trade. According to Citi, "We rate PEG shares 2M, based on expected total returns of 4% versus our target price of $31. We base our target on an 8.0x Open EBITDA deregulated generation multiple and a 14x regulated price-earnings multiple." PEG has a $31 Price Target and closed yesterday at $31.15.