PG&E (PCG) Stock Upgraded at RBC
NEW YORK (TheStreet) -- PG&E (PCG) - Get Report stock rating was upgraded to 'outperform' from 'sector perform' at RBC on Friday morning.
The firm raised its price target on shares of the San Francisco-based electric company to $71 from $60 based on valuation, the Flyreports.
RBC believes PCG's multiple will increase as investors become more comfortable with the company after the steps it took following the tragic San Bruno pipe explosion in 2010. Compared to its peers, the firm said PCG still trades at a 6% discount.
Shares of PG&E are up 0.39% to $64.45 in pre-market trading Friday morning.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate PG&E CORP as a Buy with a ratings score of B+. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, solid stock price performance and growth in earnings per share. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: PCG
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