PG&E (PCG) Price Target Raised by Morgan Stanley and Barclays

PG&E Corporation (NYSE:PCG) is one of the 10 Best Stocks Under $20 to Buy According to Hedge Funds. On February 20, Morgan Stanley raised its price target on PG&E Corporation (NYSE:PCG) from $21 to $23 and maintained its Equal Weight rating on the stock.

This update comes as the research firm updates its price targets for Regulated & Diversified Utilities and Independent Power Producers in North America under its coverage for January. Morgan Stanley pointed out that utility stocks underperformed the S&P 500 during the month. The research firm also previewed Q4 earnings. Morgan Stanley expects to see some balance in the discussions around data center pipelines because of rising affordability and political concerns.

Earlier, on February 17, Barclays also increased its price target on PG&E Corporation (NYSE:PCG) from $21 to $23 and maintained an Overweight rating on the stock.

The research firm said that it is still positive on the stock following its recent strong performance. Barclays noted that PG&E Corporation’s (NYSE:PCG) fundamentals “remain sound.”

PG&E Corporation (NYSE:PCG) is an energy holding company whose subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas to customers in Northern and Central California.

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