PSEG upgraded to Buy from Hold at Argus Argus upgraded PSEG to Buy from Hold due to an improved outlook for forward power prices, valuation, and an expanding infrastructure improvement program. Price target is $44.
PSEG: PSEG Power to invest $100M-$120M for equity interest in PennEast Pipeline PSEG Power is considering construction of and proceeding with permitting for a new, highly efficient combined-cycle power plant at its existing Bridgeport Harbor Station site based on the strength of the ISO NE capacity market. The proposed project would add approximately 450 megawatts of gas-fired generating capacity in Connecticut's southwestern region to support electric system reliability. A final decision on this investment will be made in early 2015.