Morgan Stanley Raises PG&E (PCG) PT to $21 on Utilities' Data Center Focus

PG&E Corporation (NYSE:PCG) is one of the best large cap stocks to buy under $20. On October 22, Morgan Stanley raised the price target on PG&E to $21 from $19.50, while keeping an Equal Weight rating on the shares. The decision came out as the firm updated its price targets for Regulated & Diversified Utilities/IPPs in North America under its coverage.

It was noted in September that the utilities outperformed the S&P, and thus, for Q3 2025, Morgan Stanley expects a focus for utilities to be on the evolution of data center pipelines. For this reason, the firm is also watching for commentary around interconnection times.

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.

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