BMO Capital Raises PG&E Corporation (PCG) PT to $25, Cites Discounted Valuation, Potential Catalysts

PG&E Corporation (NYSE:PCG) is one of the best high volume stocks to buy according to Wall Street analysts. On October 9, BMO Capital analyst James Thalacker maintained his bullish stance on the company while giving a Buy rating to the company’s shares. Later on October 14, the firm raised the price target on PG&E Corporation to $25 from $23 with an Outperform rating on the shares. BMO Capital noted that the stock is trading at a deep discount currently despite top-tier EPS and rate base growth.

BMO Capital Raises PG&E Corporation (PCG) PT to $25, Cites Discounted Valuation, Potential Catalysts

The firm anticipates that PG&E Corporation’s valuation will improve due to potential catalysts like achieving an investment-grade rating and increasing the company’s dividend yield. However, earlier on October 3, Jefferies lowered the price target on PG&E Corporation to $20 from $22 with a Buy rating on the shares. The company is Jefferies’ preferred California utility due to its risk/reward profile, lower projected wildfire risk, a 9% premium EPS CAGR through 2030, conservative EPS guidance, no need for new equity, messaging about share buybacks, and a discounted price-to-equity ratio.

PG&E Corporation (NYSE:PCG), through its subsidiary, Pacific Gas and Electric Company, sells and delivers electricity and natural gas to customers in northern and central California, the US.

While we acknowledge the potential of PCG to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PCG and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.