BMO Capital Raises PG&E Corporation (PCG) PT to $25, Cites Discounted Valuation, Potential Catalysts

PG&E Corporation (NYSE:PCG) is one of the best high volume stocks to buy according to Wall Street analysts. On October 9, BMO Capital analyst James Thalacker maintained his bullish stance on the company while giving a Buy rating to the company’s shares. Later on October 14, the firm raised the price target on PG&E Corporation to $25 from $23 with an Outperform rating on the shares. BMO Capital noted that the stock is trading at a deep discount currently despite top-tier EPS and rate base growth.

The firm anticipates that PG&E Corporation’s valuation will improve due to potential catalysts like achieving an investment-grade rating and increasing the company’s dividend yield. However, earlier on October 3, Jefferies lowered the price target on PG&E Corporation to $20 from $22 with a Buy rating on the shares. The company is Jefferies’ preferred California utility due to its risk/reward profile, lower projected wildfire risk, a 9% premium EPS CAGR through 2030, conservative EPS guidance, no need for new equity, messaging about share buybacks, and a discounted price-to-equity ratio.

PG&E Corporation (NYSE:PCG), through its subsidiary, Pacific Gas and Electric Company, sells and delivers electricity and natural gas to customers in northern and central California, the US.

While we acknowledge the potential of PCG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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