Barclays analyst Nicholas Campanella lowered the firm’s price target on PG&E to $23 from $24 and keeps an Overweight rating on the shares as part of a Q4 earnings preview for the power and utilities group. The firm remains bullish on the sector, seeing an upward bias to demand growth continuing into the Q4 results, with rate base and earnings growth accelerating towards 9%. Valuations “are not demanding,” the analyst tells investors in a research note.
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