UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on PG&E Corporation
In a report published Wednesday, Deutsche Bank reiterated its Buy rating on PG&E Corporation (NYSE: PCG), but lowered its price target from $48.00 to $46.00.
Deutsche Bank noted, “Working toward San Bruno resolution; Reiterate Buy. PCG reported solid Q3 EPS above our estimate and consensus. On the call, management highlighted the negative impacts of the recently-issued proposed decision in the pipeline rulemaking case, but generally sounded less downbeat than we had expected. The focus remains on a potential resolution of the San Bruno-related cases, with PCG strongly backing settlement talks and indicating a desire for a new mediator to be appointed, albeit one with all parties' support. Reiterate Buy on favorable risk/reward as we see upside to the stock even in a downside case for 2014 (EPS closer to $3.00). A San Bruno settlement would be a key positive catalyst.”
PG&E Corporation closed on Tuesday at $42.00.
Latest Ratings for PCG
|Oct 2016||Goldman Sachs||Maintains||Buy|
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