Wolfe Research Raises PG&E (PCG) Price Target, Keeps Outperform Rating

PG&E Corporation (NYSE:PCG) is one of the 10 Stocks Under $20 to Buy According to Analysts. On October 24, Wolfe Research increased its price target on PG&E Corporation (NYSE:PCG) from $19 to $21 and kept an Outperform rating.

Wolfe Research pointed to PG&E Corporation’s (NYSE:PCG) impressive long-term growth prospects. The company projects its rate base to grow by 9% and EPS to also grow by at least 9% from 2026 to 2030.

Wolfe Research also praised PG&E Corporation’s (NYSE:PCG) CEO Patti Poppe, highlighting improvements in regulatory relations and better engagement with policymakers under her leadership.

PG&E Corporation (NYSE:PCG) has taken important steps to reduce wildfire risks. Wolfe Research noted that the company is working on a significant undergrounding project. PG&E Corporation (NYSE:PCG) aims to keep customer bills at or below the expected rate of inflation with its “simple affordable model.”

Additionally, the research firm pointed out that PG&E Corporation’s (NYSE:PCG) expected growth in rate base and earnings puts it among the leading companies in the industry. According to Wolfe Research, the company also benefits from California’s supportive regulatory environment.

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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Disclosure: None. This article is originally published at Insider Monkey.