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PCG

PG&E

$43.82

0.35 (0.81%)

10:10
08/16/18
08/16
10:10
08/16/18
10:10

Another utility name with one day call buying

Another utility name with one day call buying. PG&E up 20c to $43.67 and small lots of Aug 44.5 calls trade across the exchanges from 30 to 35c per contract. 3.4K trade against 320 open interest and the market lifted to 40 to 45c. The contract is struck 1.7% above the stock price and expires tomorrow. Edison International (EIX) is drawing opening call buying in August upside calls as well.

PCG PG&E
$43.82

0.35 (0.81%)

08/06/18
08/06/18
UPGRADE
Target $60

Outperform
PG&E upgraded to Outperform on attractive risk/reward at Wells Fargo
As previously reported, Wells Fargo analyst Neil Kalton upgraded PG&E to Outperform from Market Perform, based on an eventual legislative fix to California's inverse condemnation law and given that shareholders will not incur anywhere near the "worst case" damages for the 2017 Northern California wildfires. The analyst also raised his price target on the shares to $60 from $48, citing attractive risk/reward.
08/06/18
WELS
08/06/18
UPGRADE
WELS
Outperform
PG&E upgraded to Outperform from Market Perform at Wells Fargo
07/25/18
MSCO
07/25/18
NO CHANGE
MSCO
Overweight
Governor Brown's proposal positive for California utilities, says Morgan Stanley
After California Governor Jerry Brown proposed legislation covering the treatment of utilities with respect to liability for wildfire damages, Morgan Stanley analyst Stephen Byrd said that overall he views the proposal as constructive to California utilities PG&E (PCG) and Edison International (EIX). While the proposed penalty provisions screen negative, the provision to provide courts with discretion to apportion partial liability for damages from fires is constructive for utilities because it can be a path to avoid a binary "all-or-nothing" outcome, said Byrd. He reiterates an Overweight rating on PG&E shares.
07/10/18
LEHM
07/10/18
INITIATION
Target $53
LEHM
Equal Weight
PG&E initiated with an Equal Weight at Barclays
Barclays analyst Eric Beaumont started PG&E with an Equal Weight rating and $53 price target.

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