NEW YORK (TheStreet) -- Shares of Public Service Enterprise (PEG) were advancing in late-afternoon trading on Monday as Goldman Sachs boosted its rating on the stock to "buy" from "neutral." 

"We upgrade PEG...on above consensus earnings per share, transmission and distribution capital spending upside and well-positioned power generation fleet capable of supporting continued utility investments," the firm wrote in an analyst note.

Goldman also said PSEG has an "under-appreciated" New Jersey story.

The firm increased its price target to $47 from $46.

The Newark, NJ-based energy holding company is engaged in the transmission and distribution of electricity and natural gas.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures.

The team believes its strengths outweigh the fact that the company has had sub par growth in net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: PEG

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