Wells Fargo & Company Issues Pessimistic Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Wells Fargo & Company reduced its price target for Public Service Enterprise Group (NYSE:PEG) from $91.00 to $89.00 but maintained an "overweight" rating. Despite exceeding EPS expectations at $0.86, the utility provider's revenue declined 8.9% year-over-year to $2.55 billion, missing estimates. Shares fell 1.8% to $74.88, nearing their 52-week low, though management reaffirmed its fiscal 2026 EPS guidance.