UPDATE: BMO Capital Markets Reiterates Market Perform, Lowers PT on PG&E Corporation Following Adjusted 3Q13 EPS Report

In a report published Thursday, BMO Capital Markets analyst Michael S. Worms reiterate a Market Perform rating on PG&E Corporation PCG, but lowered the price target from $50.00 to $44.00. In the report, BMO Capital Markets noted, “PCG reported adjusted 3Q13 EPS of $0.88 versus $0.93 in 3Q12 as lower authorized cost of capital and dilution were only partly offset by higher rate base earnings and other items. Adjusted 2013 EPS guidance was affirmed at $2.55-$2.75.” PG&E Corporation closed on Wednesday at $41.88.