UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Public Service Enterprise Group

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Public Service Enterprise Group (NYSE: PEG), and slightly raised its price target from $31.50 to $32.00.

Jefferies noted, “Following an update of our forecast model we are adjusting our estimates. We are increasing our 4Q and full year 2012 estimate $0.05 to $0.40 and $2.45, respectively. We are also increasing our 2013 estimate $0.05 to $2.40. Based on changes in the forward price of power and gas we are reducing our 2015 estimates by $0.05.”

Public Service Enterprise Group closed on Tuesday at $30.62.