UBS Upgrades Pacific Gas & Electric: Top Quartile Growth And Reduced Wildfire Risk in Focus
Portfolio Pulse from Nabaparna Bhattacharya
UBS Securities analyst Gregg Orrill has upgraded Pacific Gas & Electric Co (PCG) from Neutral to Buy, raising the price target to $21 from $19. The upgrade is based on the company's top quartile EPS growth of 9%, improving credit metrics, and better wildfire risk mitigation. PCG expects to increase cap-ex spending per year beyond 2027 to $13 billion from $9 billion currently. PCG shares are trading higher by 2.5% to $17.51.
August 07, 2023 | 5:31 pm
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UBS Securities has upgraded Pacific Gas & Electric Co (PCG) from Neutral to Buy, raising the price target to $21 from $19. The upgrade is based on the company's top quartile EPS growth of 9%, improving credit metrics, and better wildfire risk mitigation.
The upgrade from UBS Securities is based on several positive factors for PCG, including top quartile EPS growth, improving credit metrics, and better wildfire risk mitigation. These factors are likely to increase investor confidence in the company and could lead to a short-term increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100