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PCG

PG&E

$44.80

-0.44 (-0.97%)

, EIX

Edison International

$69.24

-0.62 (-0.89%)

15:56
08/20/18
08/20
15:56
08/20/18
15:56

California plan could let PG&E issue bonds to cover fire damages, Bloomberg says

California Senator Bill Dodd said details are still being worked out but the state is working on a plan that could let PG&E (PCG) issue bonds to cover potential damages from wildfires in the state, according to Bloomberg. A comprehensive wildfire bill is being evaluated now and lawmakers are seeking to complete it before the legislative session ends Aug. 31, the report added. Edison International (EIX) is another California utility operator. Reference Link

PCG

PG&E

$44.80

-0.44 (-0.97%)

EIX

Edison International

$69.24

-0.62 (-0.89%)

  • 25

    Sep

PCG PG&E
$44.80

-0.44 (-0.97%)

08/20/18
EVER
08/20/18
NO CHANGE
EVER
In Line
Passage of constructive legislation for PG&E seems uncertain, says Evercore ISI
Evercore ISI analyst Greg Gordon said statements from California Senator Bill Dodd indicate the state's lawmakers are abandoning efforts to shield electrical utilities from some financial liability for wildfires. The analyst, who thinks passage of constructive legislation now appears uncertain, keeps an In Line rating on PG&E shares.
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.
EIX Edison International
$69.24

-0.62 (-0.89%)

07/10/18
LEHM
07/10/18
INITIATION
Target $73
LEHM
Equal Weight
Edison International initiated with an Equal Weight at Barclays
Barclays analyst Eric Beaumont started Edison International with an Equal Weight rating and $73 price target.
07/09/18
ARGS
07/09/18
NO CHANGE
Target $75
ARGS
Buy
Edison International price target raised to $75 from $71 at Argus
Argus analyst Gary Hovis raised his price target on Edison International to $75 and kept his Buy rating, citing the company's improved forward earnings visibility and financial strength as well as the "well-balanced regulation". The analyst notes that Edison International has "adequate liquidity through its current cash balance, cash from operations and credit facility to meet all anticipated cash requirements through 2019", while also noting that its 14.5-times estimated FY19 earnings multiple puts its valuation at a discount relative to comparable electric utilities with fully regulated operations.
06/11/18
WELS
06/11/18
NO CHANGE
WELS
CAL FIRE reports an incrementally negative for PG&E, says Wells Fargo
Wells Fargo analyst Neil Kalton notes that CAL FIRE issued reports on the causes of an additional 12 fires related to the 2017 Northern California wildfires, and determined that PG&E's (PCG) infrastructure was involved in all 12 fires and that there was evidence that the company violated state laws in 8 fires. The analyst views the CAL FIRE reports as an incrementally negative development as it further casts PG&E in a bad light. While he thinks PG&E's shares reflect an overly onerous outcome, Edison International (EIX) remains his preferred play for a California regulatory recovery. Kalton reiterates a Market Perform rating on PG&E shares and an Outperform rating on Edison's stock, while lowering his price target on the former to $46 from $48 and on the latter to $72 from $74.

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Yara

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CTVA

Corteva

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United Technologies

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GS

Goldman Sachs

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DB

Deutsche Bank

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BA

Boeing

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McKesson

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GM

General Motors

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T

AT&T

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0.06 (0.19%)

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Comcast

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0.62 (1.49%)

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T

AT&T

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Comcast

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Comcast

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Sony

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Lionsgate

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DIS

Disney

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VIAB

Viacom

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Viacom

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GS

Goldman Sachs

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0.24 (0.13%)

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DB

Deutsche Bank

$6.79

-0.07 (-1.02%)

17:38
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Deutsche Bank to set up EUR50B bad bank, Financial Times reports »

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UAL

United Continental

$87.10

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Tires blow on United jet during Newark airport landing, Reuters reports »

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TGT

Target

$87.83

-0.48 (-0.54%)

16:33
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Target registers back online after outage blamed on tech issue, Reuters says »

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INTC

Intel

$46.18

-0.54 (-1.16%)

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BA

Boeing

$347.19

-1.54 (-0.44%)

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Boeing says will take time to rebuild customer confidence, Reuters reports »

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GS

Goldman Sachs

$191.71

0.24 (0.13%)

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Goldman Sachs skeptical of 'insurance' rate cuts from Fed, Reuters says »

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BA

Boeing

$347.19

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ESLT

Elbit Systems

$154.55

0.55 (0.36%)

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AMGN

Amgen

$176.09

-0.74 (-0.42%)

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  • 16

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SILK

Silk Road Medical

$44.80

-0.95 (-2.08%)

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EDIT

Editas Medicine

$21.72

-0.78 (-3.47%)

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SNSS

Sunesis

$0.90

-0.055 (-5.79%)

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APLS

Apellis

$21.22

-0.14 (-0.66%)

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FTSV

Forty Seven

$10.55

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AZN

AstraZeneca

$39.68

-0.23 (-0.58%)

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STRO

Sutro Biopharma

$11.17

-0.34 (-2.95%)

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BPMC

Blueprint Medicines

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INCY

Incyte

$77.76

1.385 (1.81%)

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ABBV

AbbVie

$78.69

-0.27 (-0.34%)

, INCY

Incyte

$77.76

1.385 (1.81%)

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ABBV

AbbVie

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INCY

Incyte

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1.385 (1.81%)

ARQL

ArQule

$8.17

1.88 (29.89%)

AMGN

Amgen

$176.09

-0.74 (-0.42%)

ALXN

Alexion

$117.94

0.65 (0.55%)

AGIO

Agios Pharmaceuticals

$47.97

-1.78 (-3.58%)

AZN

AstraZeneca

$39.68

-0.23 (-0.58%)

BLUE

Bluebird Bio

$117.57

-6.33 (-5.11%)

BMY

Bristol-Myers

$47.57

0.25 (0.53%)

CELG

Celgene

$96.49

0.07 (0.07%)

NVS

Novartis

$89.52

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NSTG

NanoString

$25.96

0.45 (1.76%)

KPTI

Karyopharm

$5.71

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JAZZ

Jazz Pharmaceuticals

$130.43

0.28 (0.22%)

GSK

GlaxoSmithKline

$40.12

0.015 (0.04%)

GILD

Gilead

$66.38

-0.62 (-0.93%)

DSNKY

Daiichi Sankyo

$0.00

(0.00%)

PFE

Pfizer

$42.75

0.24 (0.56%)

PTLA

Portola Pharmaceuticals

$25.78

-0.31 (-1.19%)

QGEN

Qiagen

$39.52

-0.07 (-0.18%)

RHHBY

Roche

$0.00

(0.00%)

RIGL

Rigel Pharmaceuticals

$2.06

-0.06 (-2.83%)

SNY

Sanofi

$42.46

-0.225 (-0.53%)

SGEN

Seattle Genetics

$68.67

-0.33 (-0.48%)

STML

Stemline

$14.20

0.12 (0.85%)

VSTM

Verastem

$1.39

0.125 (9.88%)

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