PG&E Co. Given New $53.00 Price Target at Credit Suisse (PCG)
Credit Suisse boosted their price objective on shares of PG&E Co. (NYSE:PCG) from $51.00 to $53.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective indicates a potential upside of 12.07% from the stock’s previous close.
PG&E Co. (NYSE:PCG) opened at 47.29 on Wednesday. PG&E Co. has a 52 week low of $39.42 and a 52 week high of $48.64. The stock’s 50-day moving average is $45.69 and its 200-day moving average is $45.16. The company has a market cap of $22.293 billion and a price-to-earnings ratio of 28.73.
PG&E Co. (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.05. The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts predict that PG&E Co. will post $3.03 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on PCG. Analysts at Argus downgraded shares of PG&E Co. from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. They now have a $51.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of PG&E Co. from $46.00 to $47.00 in a research note on Wednesday, August 20th. Finally, analysts at CRT Capital reiterated a “buy” rating on shares of PG&E Co. in a research note on Friday, August 1st. They now have a $49.00 price target on the stock, down previously from $50.00. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $48.17.
PG&E Corporation is a holding company that conducts its business through Pacific Gas and Electric Company (NYSE:PCG).
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