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Fly News Breaks for June 11, 2018
PCG
Jun 11, 2018 | 07:34 EDT
On Friday after the close, CalFire announced the results of another 12 investigations into the October 2017 Northern California fires. This brings the total number of completed investigations to 16 since the first four reports were released ahead of Memorial Day weekend, Deutsche Bank analyst Jonathan Arnold tells investors in a research note. The analyst notes that of 12 new reports, PG&E lines were found to have been involved in starting all or most of them. He sees, however, some confusion between the press release and report which may raise some questions as to whether the Nuns Fire might in fact have been started by a customer's lines. CalFire referring eight of the 12 new reports to relevant county district attorney offices was the most negative individual data point in Friday's reports, Arnold contends. On the positive side of the ledger, CalFire did not allege violations for the Redwood Fire or the Nuns Fire, the analyst adds. He keeps a Buy rating on the shares of PG&E.
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