PG&E Corporation (NYSE:PCG) is one of the most undervalued large cap stocks to buy right now. On October 28, Wells Fargo initiated coverage on PG&E with an Overweight rating and $23 price target. Wells Fargo maintains a highly favorable view of the company and designates it as one of its deepest value-regulated buys. The firm stated in a research note that the company has done all the right things in 2025.
Earlier on October 22, Morgan Stanley raised the firm’s price target on PG&E to $21 from $19.50 with an Equal Weight rating on the shares as part of a broader update on the price targets for Regulated & Diversified Utilities/IPPs in North America under its coverage. Utilities outperformed the S&P 500 in September. Moving into Q3, the firm expects utilities to focus on the developing data center pipelines.
PG&E Corporation, through its subsidiary, Pacific Gas & Electric Company, sells and delivers electricity and natural gas to customers in northern and central California, the US.
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This article is originally published at Insider Monkey.
