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In a report published Wednesday, Jefferies analyst Paul B. Fremont reiterated a Buy rating on PG&E (NYSE: PCG), and raised the price target from $51.00 to $53.00.

In the report, Jefferies noted, “The cash contribution of deferred taxes will significantly reduce the need for PG&E to raise equity. The lower share count is expected to increase the earnings power of the company making PG&E attractive on a valuation basis. Jefferies believes there may be further earnings upside associated with PG&E's cap structure and potential earnings on CWIP.”

PG&E closed on Tuesday at $47.23.

Latest Ratings for PCG

DateFirmActionFromTo
Dec 2014Deutsche BankDowngradesBuyHold
Dec 2014JP MorganUpgradesNeutralOverweight
Oct 2014Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for PCG
View the Latest Analyst Ratings

Posted-In: Jefferies Paul B. FremontAnalyst Color Price Target Analyst Ratings

 

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