Jefferies Reduces Its Price Target on PG&E Corporation (PCG) to $22 with “Buy” Rating

Third Point Management holds $712,334,000 worth of PG&E Corporation (NYSE:PCG) shares, representing 9.35% of its portfolio. The stock is included in our list of Billionaire Dan Loeb’s 10 Stocks with Huge Upside Potential.

Jefferies Reduces Its Price Target on PG&E Corporation (PCG) to $22 with “Buy” Rating

On October 3, 2025, Jefferies reduced its price target on PG&E Corporation (NYSE:PCG) from $22 to $20, maintaining a “Buy” rating.

The investment firm attributed its bullish stance on PG&E Corporation (NYSE:PCG) to the company’s solid risk-reward profile, alongside declining wildfire risk and a 9% EPS CAGR premium through 2030. Jefferies believes PG&E’s earnings guidance is conservative, also highlighting the absence of equity financing needs and potential share buybacks. At the same time, the company’s shares are trading at a 50% forward price-to-earnings discount versus peers.

Meanwhile, PG&E Corporation (NYSE:PCG) announced on October 3, 2025, that it has completed 1,000 miles of underground power lines in high fire-risk areas, which is the largest such initiative by a U.S. utility. The initiative has reduced systemwide wildfire ignition risk by 8.4% since 2023, while total undergrounding is expected to reach 1,600 miles by 2026. With this, the company further enhanced reliability and cost efficiency across Northern and Central California.

PG&E Corporation (NYSE:PCG), a regulated electric and natural gas utility, offers energy services to residential, commercial, and industrial customers in Northern and Central California. It is included in Dan Loeb’s stock portfolio.

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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