Morgan Stanley raised the firm’s price target on PG&E to $20 from $19 and keeps an Equal Weight rating on the shares. In August, Regulated & Diversified Utilities / IPPs in North America outperformed the S&P’s +2.43% return by 238 bps, the analyst tells investors. With interest rates declining, a potential economic slowdown ahead, and expected data center updates, the firm believes the industry could outperform by approximately 5% but notes the sector’s mixed performance in previous soft landings.
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