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 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.
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 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 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 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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This article is originally published at Insider Monkey.
