Wolfe Research Raises PG&E (PCG) Price Target, Keeps Outperform Rating

PG&E Corporation (NYSE:PCG) is one of the 10 Stocks Under $20 to Buy According to Analysts. On October 24, Wolfe Research increased its price target on PG&E Corporation (NYSE:PCG) from $19 to $21 and kept an Outperform rating.

Wolfe Research pointed to PG&E Corporation’s (NYSE:PCG) impressive long-term growth prospects. The company projects its rate base to grow by 9% and EPS to also grow by at least 9% from 2026 to 2030.

Wolfe Research also praised PG&E Corporation’s (NYSE:PCG) CEO Patti Poppe, highlighting improvements in regulatory relations and better engagement with policymakers under her leadership.

PG&E Corporation (NYSE:PCG) has taken important steps to reduce wildfire risks. Wolfe Research noted that the company is working on a significant undergrounding project. PG&E Corporation (NYSE:PCG) aims to keep customer bills at or below the expected rate of inflation with its “simple affordable model.”

Additionally, the research firm pointed out that PG&E Corporation’s (NYSE:PCG) expected growth in rate base and earnings puts it among the leading companies in the industry. According to Wolfe Research, the company also benefits from California’s supportive regulatory environment.

PG&E Corporation (NYSE:PCG) is an energy holding company whose subsidiary, Pacific Gas and Electric Company, provides electricity and natural gas to customers in Northern and Central California.

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.