Goldman Sachs initiated coverage of PG&E with a Buy rating and $21 price target, which implies a total return of 25%. Although PG&E has been one of the best performing utilities over the last several years, it still trades at a 25% discount due to its wildfire exposure, the analyst tells investors in a research note. The firm believes the company’s turnaround story is not yet complete and forecasts “peer-leading” earnings growth at 9% on average versus the group average at 7%. It cites PG&E’s strong capital investment opportunities and cost efficiencies.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PCG:
- PG&E price target raised to $20.50 from $20 at Ladenburg
- 5 Best Renewable Energy Stocks to Buy in March 2024, According to Analysts
- PG&E denied application to transfer non-nuclear generation assets to Pac Gen
- Mizuho says ‘not a good Friday’ for PG&E’s ‘Pac Gen’ plan
- PG&E price target lowered to $22 from $23 at Guggenheim
