UPDATE: Deutsche Bank Raises PT to $46 on PG&E Corporation; Outlook on Track

Deutsche Bank increases its price target from $44 to $46 on Buy-rated PG&E Corporation

as the company post strong Q1 and reaffirms its outlook. Deutsche Bank comments, "PCG reported strong Q1 earnings and affirmed that its near-term and longer-term outlook remained on track. PCG continues to make progress in the pipeline-related proceedings in California, and we believe most parties would prefer to settle. A settlement in these cases would be a positive catalyst for PCG, providing certainty on the ultimate costs stemming from the 2010 San Bruno accident and allowing the company to provide a growth/financial outlook for more than just 2012. Reiterate Buy on positive forward momentum and upcoming potential catalysts." PCG closed at $44.11 on Wednesday.