BMO Capital raised the firm’s price target on PG&E to $25 from $23 and keeps an Outperform rating on the shares. The stock is trading at a deep discount despite top-tier EPS and rate base growth with several potential catalysts to realize multiple expansion, including an upgrade to investment grade rating and a growing dividend yield that should drive multiple expansion, the analyst tells investors in a research note.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PCG:
- Positive Outlook for PG&E: Buy Rating Supported by Earnings Growth and Strategic Initiatives
- Moderately bullish activity in PG&E with shares up 0.73%
- Mixed options sentiment in PG&E with shares up 1.09%
- Moderately bullish activity in PG&E with shares up 0.97%
- Eaton names Kaled Awada as Chief Human Resources Officer