Morgan Stanley Raises the PT on PG&E Corporation (PCG), Keeps an Underweight Rating

PG&E Corporation (NYSE:PCG) is one of the Most Undervalued US Stocks According to Wall Street Analysts. On August 21, Morgan Stanley raised the firm’s price target on PG&E Corporation (NYSE:PCG) from $18.5 to $19, while keeping an Underweight rating on the stock.

The firm noted that the updated price target comes as part of their broader review of Regulated & Diversified Utilities and Independent Power Producers sectors in North America. Morgan Stanley highlighted that the utilities sector has outperformed the S&P 500 in July, which shows the strength of this sector. Moreover, they also see long-term benefits of nuclear energy and believe that the benefits of nuclear energy have not been fully recognized in the current market valuations. The firm remains cautiously optimistic about PG&E Corporation (NYSE:PCG) in the current market environment.

Brightly-lit nighttime view of an electricity power grid with distribution lines and transmission substations.

PG&E Corporation (NYSE:PCG) is a holding company dealing in Pacific Gas and Electric Company. It 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.