PG&E price target raised to $18.50 from $17.50 at Morgan Stanley

Morgan Stanley raised the firm’s price target on PG&E to $18.50 from $17.50 and keeps an Underweight rating on the shares. The firm is updating its price targets on Regulated & Diversified Utilities / IPPs in North America, the analyst tells investors. Utilities outperformed the S&P in March, the firm adds. Heading into Q1, the quarter represents a “quiet quarter” without meaningful financial updates, so key focus areas will likely be tariff risk, Morgan Stanley says.