In a report released yesterday, Ryan Levine from Citi maintained a Buy rating on PG&E, with a price target of $21.00.
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Ryan Levine has given his Buy rating due to a combination of factors that suggest potential growth for PG&E’s stock. One significant aspect is the legislative developments in California, where pending bills could influence the financial landscape for utility companies like PG&E. The potential for amendments to affordability bills and securitization provisions could lead to a more favorable environment for shareholders, reducing financial burdens and enhancing future profitability.
Additionally, Levine anticipates a positive short-term outlook for PG&E, with an expected share price return of 44.2% by October 2025. This optimistic projection is based on the assumption that legislative changes may eventually favor PG&E, coupled with the company’s strategic positioning in the market. These factors collectively contribute to Levine’s confidence in recommending a Buy rating for PG&E’s stock.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PCG in relation to earlier this year.