Morgan Stanley Raises PG&E (PCG) PT to $21 on Utilities’ Data Center Focus

PG&E Corporation (NYSE:PCG) is one of the best large cap stocks to buy under $20. On October 22, Morgan Stanley raised the price target on PG&E to $21 from $19.50, while keeping an Equal Weight rating on the shares. The decision came out as the firm updated its price targets for Regulated & Diversified Utilities/IPPs in North America under its coverage.

Morgan Stanley Raises PG&E (PCG) PT to $21 on Utilities' Data Center Focus

It was noted in September that the utilities outperformed the S&P, and thus, for Q3 2025, Morgan Stanley expects a focus for utilities to be on the evolution of data center pipelines. For this reason, the firm is also watching for commentary around interconnection times.

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.