BMO Capital initiated coverage of PG&E with an Outperform rating and $21 price target The firm sees the company shares as a core holding in the regulated utility sector, providing investors with exposure to a “rare deep value opportunity with premium visible growth.” BMO’s five-year forecast supports consolidated earnings growth of 9.2% and rate base growth of 10%, which is consistent with the company’s long-term earnings guidance of at least 9%, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PCG:
- California utility selloff on fires seems overdone, says Wells Fargo
- PG&E put volume heavy and directionally bearish
- PG&E price target lowered to $24 from $26 at UBS
- Pfizer provides FY25 outlook, McCormick in talks for Sauer Brands: Morning Buzz
- White House to provide $15B low-interest loan to PG&E, WSJ reports