How is PG&E Corporation (PCG) One of the Best Affordable Stocks to Buy Under $20?

PG&E Corporation (NYSE:PCG) is one of the best affordable stocks to buy under $20. Jefferies analyst Julien Dumoulin-Smith lifted the price target on PG&E Corporation (NYSE:PCG) to $21 from $20 on October 22 and assigned a Buy rating to the stock. The firm told investors in a sector preview that it expects a mostly positive Q3 “super cycle” of updates containing messages of “capex up & cost of capital down” from the utilities sector.

Similarly, Bank of America Securities analyst Ross Fowler also maintained a bullish outlook on the stock, assigning it a Buy rating with a $22 price target on October 20.

PG&E Corporation (NYSE:PCG) also received a rating update from BMO Capital on October 14, with the firm lifting its price target on the stock to $25 from $23 and maintaining an Outperform rating on the shares.

The firm told investors that although PG&E Corporation (NYSE:PCG) boasts a top-tier EPS and rate base growth, it is trading at a deep discount. It added that the stock has several potential catalysts to realize multiple expansion, including a growth dividend yield and an upgrade to investment grade rating.

PG&E Corporation (NYSE:PCG) generates, transmits, and distributes natural gas and electricity to customers. The company specializes in utility, electricity, energy, power, solar, gas, and sustainability.

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.

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