Wall Street Mixed on PG&E Corporation (PCG) as Growth Opportunities Emerge for 2026

PG&E Corporation (NYSE:PCG) is among the ridiculously cheap stocks to buy now. As of December 26, PG&E Corporation (NYSE:PCG) has a ‘Buy’ or equivalent rating from 78% of the analysts covering the stock. With a median price target of $21, the stock has an upside potential of 33.16%. Among the analysts bullish on the stock is Carly Davenport, an analyst at Goldman Sachs, who reaffirmed a ‘Buy’ rating on PCG on December 3, with a price target slightly above the consensus estimate, set at $22.

Morgan Stanley trimmed the price target on PG&E Corporation (NYSE:PCG) to $20 from $21, while keeping an ‘Equal Weight’ rating on the stock, on December 16. According to a year-ahead note, utility performance will be largely fueled by data centers and growth upside in 2026. Earlier, on December 12, JPMorgan reduced the price target on PG&E Corporation (NYSE:PCG) to $21 from $22, and maintained an ‘Overweight’ rating. TheFly reports that this revision is a part of the firm’s update to the models in the North American utilities group.

Separately, on December 17, PG&E Corporation (NYSE:PCG) announced an organizational restructuring to enhance service for customers in Northern and Central California. Effective January 1, 2026, these changes include several leadership appointments, with Patti Poppe remaining as CEO. As stated by her,

“We want to be our customers’ hometown gas and electric utility, in touch with their unique needs and enabling their growth and prosperity.”

PG&E Corporation (NYSE:PCG) is a California-based provider of electricity and natural gas through its Pacific Gas and Electric Company subsidiary. Founded in 1905, the company serves clients across commercial, industrial, and agricultural sectors.

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