Jefferies Raises PT on PG&E Corporation (PCG), Keeps a Buy

PG&E Corporation (NYSE:PCG) is one of the Best Low Cost Stocks to Buy According to Analysts. On September 2, Jefferies analyst Julien Dumoulin-Smith maintained a Buy rating on PG&E Corporation (NYSE:PCG) while raising the price target from $19 to $22.

The analyst noted the leaked wildfire bill was added to SB254, which was a securitization bill and was paused at third reading in the Assembly. He noted that the arrival of this bill strengthens investor confidence for companies like PG&E Corporation (NYSE:PCG) as the wildfire season approaches. Moreover, the wildfire fund bill remains mostly the same as the leaked version, which reduces concerns about increased shareholder funding. As a result, Jefferies remains a Buy on the stock.

In addition to Jefferies, on September 8, Ryan Levine from Citi also reiterated a Buy rating on PG&E Corporation (NYSE:PCG) with a price target of $21.

PG&E Corporation (NYSE:PCG) is a holding company whose main operating business is Pacific Gas and Electric Company. The company provides electricity and natural gas to customers in Northern and Central California.

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