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UPDATE: Jefferies Reiterates On PG&E As All Equity Is Not Created Equal

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Morgan Stanley Downgrades PG&E To Equal-weight
Benzinga's Top Downgrades
Stock Market News for March 27, 2015 - Market News (Zacks)

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
Mar 2015Morgan StanleyDowngradesOverweightEqual-weight
Mar 2015JP MorganMaintainsOverweight
Feb 2015JefferiesInitiates Coverage onBuy

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View the Latest Analyst Ratings

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

 

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