11 Undervalued Stocks with Biggest Upside Potential

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​5. PG&E Corporation (NYSE:PCG)

Forward P/E Ratio: 10.11

Number of Hedge Fund Holders: 79

Analyst Upside Potential: 38.52%

​PG&E Corporation (NYSE:PCG) is one of the Undervalued Stocks with Biggest Upside Potential. On December 12, Aidan Kelly from J.P. Morgan reiterated a Buy rating on PG&E Corporation (NYSE:PCG), but lowered the firm’s price target from $22 to $21. Earlier on December 4, TD Cowen also reiterated a Buy rating on the stock with a $21 price target.

​Kelly from J.P. Morgan noted the slight price reduction to be based on the firm’s updated model for the North American utilities group. Analysts at TD Cowen find PG&E Corporation (NYSE:PCG) to be a compelling recovery story considering the wildfires that happened earlier this year. The firm noted the company has outperformed its peers, and the performance is expected to be boosted further, driven by electrification trends and wildfire mitigation opportunities. TD Cowen also likes the company’s cheap valuation and anticipates 3% revenue growth for fiscal 2025, along with an EPS of $1.50.

​That said, PG&E Corporation (NYSE:PCG) on December 11 announced the successful launch of a technology demonstration project using Dynamic Line Rating and Asset Health Monitoring tools. Management noted that these tools combine sensors, real-time data analytics, and partner software to boost the capacity of existing power lines and monitor equipment health. The project has reached the trial deployment phase and aligns with the company’s plan to expand transmission capacity amid California’s extreme weather and rising demand.

​PG&E Corporation (NYSE:PCG) generates, transmits, and distributes natural gas and electricity to customers. The company specializes in utility, electricity, energy, power, solar, gas, and sustainability.

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