The brokerage firms have a bullish stance based on the Company’s attractive generation profile, strong management team, and attractive total return profile.  The firms are optimistic based on a diverse, attractively located merchant generation fleet, regulated infrastructure growth opportunities, a strong financial position and positive leverage to likely carbon restrictions.  The firms believe that the Company has a relatively stable business model in which much of its commodity-sensitive generation output is sold significantly forward in conjunction with the annual New Jersy (NJ) power auction.  The firms are of the opinion that the Company’s strength in the current environment lies in its diversified generation portfolio and territory that has constraint issues that have kept positive pressure on capacity pricing.  According to these bullish firms, the Company is better positioned to improve its earnings from recovering commodity prices and regulated investments in New Jersey.