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EIX

Edison International

$59.87

-0.33 (-0.55%)

, PCG

PG&E

$42.86

0.44 (1.04%)

15:04
03/13/18
03/13
15:04
03/13/18
15:04

California legislative leaders pledge to make state more resilient to disasters

California Senate Republican Leader Patricia Bates announced that she, Governor Edmund Brown, Jr. and other legislative leaders including Senate President pro Tempore Kevin de Leon, Assembly Speaker Anthony Rendon, Assembly Republican Leader Brian Dahle and Senate President pro Tempore-designate Toni Atkins are partnering on solutions to make California more resilient against the impacts of natural disasters and climate change. Bates said they plan to craft solutions to: Modernize vegetation and forest management practices for fire prevention and carbon sequestration; Ensure utility and public infrastructure is designed, constructed and operated to maximize resiliency to extreme weather events and natural disasters; Enhance the emergency response system, including consideration of mutual aid resources, telecommunications, 911 systems, and community needs, particularly in low-income and vulnerable rural and urban communities; Examine the availability of insurance products in high wildfire areas in light of increased risks from climate change, and; Update liability rules and regulations for utility services in light of changing climate and the increased severity and frequency of weather events. California-exposed utility stocks include PG&E (PCG), Edison International (EIX), AES Corp. (AES) and Sempra Energy (SRE). Reference Link

EIX

Edison International

$59.87

-0.33 (-0.55%)

PCG

PG&E

$42.86

0.44 (1.04%)

AES

AES Corp.

$10.64

-0.105 (-0.98%)

SRE

Sempra Energy

$109.93

0.18 (0.16%)

  • 22

    Mar

EIX Edison International
$59.87

-0.33 (-0.55%)

01/22/18
SBSH
01/22/18
NO CHANGE
Target $66
SBSH
Neutral
Edison International price target lowered to $66 from $87 at Citi
Citi analyst Praful Mehta lowered his price target for Edison International to $66 to reflect liability from the Thomas fire and potential liability from a future fire before an inverse condemnation solution is reached. The analyst reiterates a Neutral rating on the shares.
02/02/18
UBSW
02/02/18
INITIATION
Target $67
UBSW
Neutral
Edison International initiated with a Neutral at UBS
UBS analyst Daniel Ford started Edison International with a Neutral rating and $67 price target.
02/23/18
GUGG
02/23/18
UPGRADE
GUGG
Buy
Edison International upgraded to Buy from Neutral at Guggenheim
02/23/18
02/23/18
UPGRADE
Target $71

Buy
Edison International upgraded to Buy at Guggenheim
As previously reported, Guggenheim upgraded Edison International to Buy from Neutral and raised its price target to $71 from $68. Analyst Shahriar Pourreza is more comfortable with the sustainability of Edison's dividend over the long-term and believes valuation reflects a range of potential outcomes from the December wildfires in California.
PCG PG&E
$42.86

0.44 (1.04%)

01/02/18
01/02/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) downgraded to Neutral from Overweight at JPMorgan with analyst Michael Weinstein saying he sees greater upside potential in other large cap names with J&J shares trading at 17.9 times his 2018 earnings estimate. 2. PG&E (PCG) downgraded to Sell from Neutral at Guggenheim and to Neutral from Buy at Goldman Sachs. Goldman analyst Michael Lapides saying resolution of claims from the California wildfires, if inverse condemnation is applied, could take years and "cash flow/balance sheet impacts could prove significant still." 3. Allstate (ALL) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Meyer Shields saying the company's margin expansion story has played out. 4. Cabot Oil & Gas (COG) downgraded two notches to Underperform from Outperform at Raymond James with analyst John Freeman citing valuation after "considerable" 2017 share outperformance. 5. Windstream (WIN) downgraded to Underweight from Neutral at JPMorgan with analyst Philip Cusick saying he sees fundamental business challenges continuing in both the near and long term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/22/18
SBSH
01/22/18
NO CHANGE
Target $45
SBSH
Neutral
PG&E price target lowered to $45 from $56 at Citi
Citi analyst Praful Mehta lowered his price his price target for PG&E to $45 to reflect liability from the October Wildfires and potential liability from a future fire before an inverse condemnation solution is reached. The analyst reiterates a Neutral rating on the shares.
02/02/18
UBSW
02/02/18
INITIATION
Target $48
UBSW
Neutral
PG&E initiated with a Neutral at UBS
UBS analyst Daniel Ford started PG&E with a Neutral rating and $48 price target.
02/12/18
WELS
02/12/18
NO CHANGE
Target $45
WELS
Market Perform
PG&E price target lowered to $45 from $60 at Wells Fargo
Wells Fargo analyst Neil Kalton lowered his price target for PG&E to $45 from $60 saying the shares have shed roughly half of their value and now arguably embed $12B-13B of shareholder liability for prior or future wildfire risk. The analyst thinks the share price reflects excessive risk and believes California's inverse condemnation principle is an untenable law longer-term, with no easy or near-term solution. Kalton reiterates a Market Perform rating on the shares.
AES AES Corp.
$10.64

-0.105 (-0.98%)

02/02/18
UBSW
02/02/18
INITIATION
Target $12
UBSW
Neutral
AES Corp. initiated with a Neutral at UBS
UBS analyst Daniel Ford started AES Corp. with a Neutral rating and $12 price target.
11/13/17
BOFA
11/13/17
UPGRADE
Target $12
BOFA
Buy
AES Corp. upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Julien Dumoulin-Smith upgraded AES to Buy and raised its price target to $12 from $11.50 saying the recent selloff in shares is "unwarranted" given potential asset sales, cost cuts, and a robust high-yield backdrop.
09/13/17
RHCO
09/13/17
NO CHANGE
RHCO
Multiple catalysts could help AES Corp. stock, says SunTrust
SunTrust analyst Ali Agha believes that multiple, positive catalysts over the next three months "should bode well" for the performance of AES Corp stock. The analyst believes that a pending decision by Ohio regulators will increase the company's annual EPS by 11c, and he thinks an announcement of a sale of its remaining 51% stake in its Phillippines assets would also help the stock. Finally, he believes that by listing its Eletropaulo subsidiary on the Brazilian stock exchange, the company will be able to eliminate the subsidiary from its financial statements and reduce its Brazilian exposure. He keeps a $15 price target and a Buy rating on the shares.
SRE Sempra Energy
$109.93

0.18 (0.16%)

10/11/17
GSCO
10/11/17
UPGRADE
Target $129
GSCO
Buy
Sempra Energy upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Michael Lapides upgraded Sempra Energy to Buy and raised his price target for the shares to $129 from $117. Utility and infrastructure project developments in the U.S. and Mexico create an "active catalyst path" over the next six-to-nine months, Lapides tells investors in a research note. Further, the analyst believes the proposed acquisition of Energy Future Holdings could drive higher growth.
12/22/17
BOFA
12/22/17
DOWNGRADE
Target $112
BOFA
Neutral
Sempra Energy downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Julien Dumoulin-Smith downgraded Sempra Energy to Neutral and cut its price target to $112 from $125 due to ongoing wildfire risk, which will be an overhang for the company. The analyst added the recent selloff in shares also puts pressure on the upcoming $6B equity raise and accretion metrics for Oncor.
01/03/18
WELS
01/03/18
NO CHANGE
Target $121
WELS
Outperform
Sempra Energy price target lowered to $121 from $130 at Wells Fargo
Wells Fargo analyst Sarah Akers lowered her price target for Sempra Energy to $121 from $130 to primarily reflect lower utility multiples. The analyst reiterates an Outperform rating on the shares.
02/02/18
UBSW
02/02/18
INITIATION
Target $124
UBSW
Buy
Sempra Energy initiated with a Buy at UBS
UBS analyst Daniel Ford started Sempra Energy with a Buy rating and $124 price target.

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SND

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NVRO

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$44.76

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TORC

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$7.16

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NVRO

Nevro

$44.76

0.37 (0.83%)

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PFE

Pfizer

$42.32

0.51 (1.22%)

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Merck KGaA

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GOOG

Alphabet

$1,199.71

16.05 (1.36%)

, GOOGL

Alphabet Class A

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$1,199.71

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$1,203.13

15.04 (1.27%)

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  • 27

    Oct

GOOG

Alphabet

$1,199.71

16.05 (1.36%)

, GOOGL

Alphabet Class A

$1,203.13

15.04 (1.27%)

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$1,199.71

16.05 (1.36%)

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Alphabet Class A

$1,203.13

15.04 (1.27%)

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SMAR

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LGIH

LGI Homes

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SAGE

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AIHS

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INVH

Invitation Homes

$23.31

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PULM

Pulmatrix

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SIEN

Sientra

$8.81

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INVH

Invitation Homes

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FDX

FedEx

$181.50

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LYFT

Lyft

$0.00

(0.00%)

18:41
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NSTG

NanoString

$24.27

-3.03 (-11.10%)

18:37
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NanoString 4.5M share Secondary priced at $23.00 »

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