Morgan Stanley initiates its coverage on PG&E Corporation PCG with a rating of Equal-weight and a price target of $47.
Morgan Stanley notes, "PCG trades at a discount to peers and a near-term settlement on San Bruno looks likely, which should be positive. However, there continues to be risk surrounding the company's equity ratio and pipeline safety recovery. We see some upside to our $47 PT, based on 14.0x 2014e EPS of $3.35. Our estimate is modestly below consensus, driven by our view that equity needs will continue due to a robust capex plan."
PCG closed at $ on Friday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in