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Friday, December 31, 2010

Public Service Enterprise (NYSE:PEG) EPS Estimates Raised on Better Results

With the cold weather helping to generate better results for Public Service Enterprise Group Inc. (NYSE:PEG), Jefferies (NYSE:JEF) has increased their fourth quarter and fully year 2010 EPS estimates on the utility.

For the fourth quarter they raised their estimates from $0.55 to $0.65, and for full year 2010 from $3.10 to $3.20.

Public Service Enterprise hasn't provided guidance for full year 2011 and full year 2012, so Jefferies maintains their current EPS estimates on them for those years at this time.

For full year 2013, they initiated an EPS estimate on them of $3.15.

Public Services Enterprise closed Thursday at $31.39, gaining $0.03, or 0.11 percent. Jefferies has a price target of $37.50 on the utility.

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