Professional
Added to YB: 2024-04-24
Pitch date: 2024-04-08
PCG [bullish]
PG&E Corporation
-8.4%
current return
Author Info
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Company Info
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States.
Market Cap
$33.6B
Pitch Price
$16.77
Price Target
21.00 (+39%)
Dividend
0.65%
EV/EBITDA
9.94
P/E
14.18
EV/Sales
3.87
Sector
Electric Utilities
Category
turnaround
RBC Capital Markets Investment Thesis: PG&E Corporation
PCG $21 PT for 2025. New mgmt executing Lean Operating System & wildfire plans is key to improving risk profile. Upside from capex recovery, constructive rate cases, CA emissions targets & electrification. 14.4x P/E for '25 EPS (discount to 16.9x base multiple). Risks: negative reg change, fines, wildfires, capex cuts, gas customer loss.
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