UPDATE: Jefferies Raises PT on PG&E Corporation Following In-Line Quarterly Earnings - PG&E (NYSE:PCG)

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In a report published Friday, Jefferies analyst Paul B. Fremont reiterated a Buy rating on PG&E Corporation (NYSE: PCG), and slightly raised the price target from $52.00 to $53.00.In the report, Fremont noted, “PCG reported in-line quarterly earnings which excluded $62 million of non-recoverable expenses related to natural gas matters. Since the San Bruno incident non-recoverable expenses have reached $1.4 billion which does not include any fines. The litigated track for remedies continues with Staff and intervenor recommendations expected on May 6 and PCG's response on May 24.”PG&E Corporation closed on Thursday at $47.23.

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