{"id":45968,"date":"2023-08-08T13:37:24","date_gmt":"2023-08-08T17:37:24","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/time-to-buy-pge-corp-says-ubs\/"},"modified":"2023-08-08T13:37:25","modified_gmt":"2023-08-08T17:37:25","slug":"time-to-buy-pge-corp-says-ubs","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45968","title":{"rendered":"‘Time to buy’ PG&E Corp, says UBS"},"content":{"rendered":"
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\u00a9 Reuters. ‘Time to buy’ PG&E Corp (PCG) says UBS<\/span>
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It’s “time to buy” PG&E Corp. (NYSE:), according to UBS analysts on Monday, who raised the stock to Buy from Neutral, with a new price target of $21 per share, up from $19.<\/p>\n

The analysts told investors in a note that their view is based on the declining wildfire risk and the fact they see positive catalysts ahead.<\/p>\n

They outlined five drivers for the stock: “1) Top quartile EPS growth of 9%; 2) Improving credit metrics; 3) Better wildfire risk mitigation; 4) A 25% group P\/E discount based on our $1.49 in ’25 and 5) Several catalysts.”<\/p>\n

The catalysts “include a final decision in the general rate case potentially third quarter, reinstatement of the dividend on the third quarter conference call and completion of Fire Victim Trust share sale sales (only 3.3% of outstanding),” the analysts wrote.<\/p>\n

“Regulatory lag and investor crowding represent risks to our view but we still view California as an improving regulatory environment. PCG trades at a $11 billion market cap discount which would be 12 years of maximum fire outlays,” the analysts concluded.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. ‘Time to buy’ PG&E Corp (PCG) says UBS It’s “time to buy” PG&E Corp. (NYSE:), according to UBS analysts on Monday, who raised the stock to Buy from Neutral, with a new price target of $21 per share, up from $19. The analysts told investors in a note that their view is based […]<\/p>\n","protected":false},"author":1,"featured_media":45969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-45968","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\n'Time to buy' PG&E Corp, says UBS | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 'Time to buy' PG&E Corp (PCG) says UBS It's "time to buy" PG&E Corp. 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