NEW YORK (TheStreet) -- Shares of PG&E (PCG) are climbing, up 0.37% to $52.13 in early market trading Wednesday, after the company had its rating lowered to "hold" from "buy" by analysts at Deutsche Bank this morning.
However, the firm raised its price target to $54 from $52 on shares of the electric utilities company, saying PG&E outperformed the sector by nearly 9% since late October.
Deutsche Bank analysts cited the open-ended nature of the cases regarding the company's alleged violations of state law in the aftermath of a fatal explosion in San Bruno, CA.
Analysts at the firm noted, "We continue to believe that ultimately PG& E can re-gain its premium valuation, but that path continues to be uncertain and potentially lengthy."
Separately, TheStreet Ratings team rates PG&E CORP as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate PG&E CORP (PCG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."