How is PG&E Corporation (PCG) One of the Best Affordable Stocks to Buy Under $20?

PG&E Corporation (NYSE:PCG) is one of the best affordable stocks to buy under $20. Jefferies analyst Julien Dumoulin-Smith lifted the price target on PG&E Corporation (NYSE:PCG) to $21 from $20 on October 22 and assigned a Buy rating to the stock. The firm told investors in a sector preview that it expects a mostly positive Q3 “super cycle” of updates containing messages of “capex up & cost of capital down” from the utilities sector.

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Similarly, Bank of America Securities analyst Ross Fowler also maintained a bullish outlook on the stock, assigning it a Buy rating with a $22 price target on October 20.

PG&E Corporation (NYSE:PCG) also received a rating update from BMO Capital on October 14, with the firm lifting its price target on the stock to $25 from $23 and maintaining an Outperform rating on the shares.

The firm told investors that although PG&E Corporation (NYSE:PCG) boasts a top-tier EPS and rate base growth, it is trading at a deep discount. It added that the stock has several potential catalysts to realize multiple expansion, including a growth dividend yield and an upgrade to investment grade rating.

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.

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.

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