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PCG

PG&E

$48.72

1.29 (2.72%)

19:02
11/05/18
11/05
19:02
11/05/18
19:02

PG&E proposes to establish new commercial EV rate class

Pacific Gas and Electric Company submitted a proposal to the California Public Utilities Commission to establish new commercial electric vehicle charging rates to help drive more rapid customer adoption. PG&E's proposal will make EV charging simpler and more affordable for fleet vehicles and charging stations at apartment buildings, workplaces and other public locations in Central and Northern California. Combining the new rate with PG&E's efforts to accelerate EV adoption will drive progress toward California's shared climate goals and result in cleaner air for all. As EV charging stations become more common in places such as multi-family residences, businesses, transit stations and other commercial spaces, PG&E has recognized that the existing rate structure does not best meet the needs of commercial EV charging. Currently, public or fleet EV chargers on PG&E's commercial electric rates can see higher costs than the typical business customer, on average. These costs pose challenges to the expansion of EVs and needed charging stations. Under the existing rate structure, high-power public EV chargers that are on business electric rates can incur demand charges, a cost included on commercial customer bills that are calculated based on the peak electricity usage of a customer during a billing period. Planning around and managing these demand charges pose unique and significant challenges to EV charging projects.

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PCG PG&E
$48.72

1.29 (2.72%)

10/10/18
MSCO
10/10/18
NO CHANGE
Target $66
MSCO
Overweight
PG&E shareholders unlikely to be liable for Cascade damages, says Morgan Stanley
After Cal Fire issued a press release yesterday detailing its findings that the Cascade fire was started by sagging PG&E power lines, but noted that it found no evidence of any violations by the utility, Morgan Stanley analyst Stephen Byrd said he believes the estimated $400M-$450M of associated costs should be recoverable from utility customers and should not impact shareholders. Noting that the incident report filed by PG&E for the Cascade fire shares similarities with the Tubbs fire incident report, Byrd added that he views the Cal Fire report having a potentially positive read-across to the Tubbs fire, which was the largest in the 2017 NorCal fires and the last investigation remaining. Byrd keeps an Overweight rating and $66 price target on PG&E shares.
09/06/18
09/06/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. ANALYSTS WEIGH IN ON MICRON: Despite recent softness in DRAM spot pricing, the more appropriate metric for Micron Technology (MU) investors to focus on is gross margin, Deutsche Bank analyst Sidney Ho said. On gross margin, the analyst sees Micron benefiting from "solid cost improvement through technology transition" in fiscal 2019. Further, he believes the DRAM market has become more diverse, which should help offset temporary weakness in any given end market. As the company continues to execute on its technology roadmap and delivers solid operating results, Ho expects Micron's stock valuation to re-rate. He kept a Buy rating and $80 price target on Micron. However, Baird analyst Tristan Gerra said Micron is no longer a top large-cap idea, citing its valuation and the likelihood gross margins may be nearing their peak. He also noted DRAM pricing is likely peaking and NAND is in significant oversupply. Gerra maintained an Outperform rating but lowered his price target to $75 from $100 on Micron shares. ARGUS UPGRADES PG&E TO BUY: Argus analyst Jacob Kilstein upgraded PG&E (PCG) to Buy from Hold with a price target of $54, saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. Kilstein further anticipates PG&E to announce a timeline regarding its dividend reinstatement after being forced to suspend its quarterly payout on concerns about its potential wildfire damage responsibility estimated as high as $12B. NORTHLAND DOWNGRADES TILRAY TO MARKET PERFORM: Northland analyst Mike Grondahl downgraded Tilray (TLRY) to Market Perform from Outperform. While he continues to see the company playing a "huge role" in the recreational-use cannabis market in Canada and other countries and the medical market in Europe, he also believes the risk/reward is far more balanced following the recent "massive" move in the stock. JPMORGAN CUTS FRANKLIN RESOURCES TO UNDERWEIGHT: JPMorgan analyst Kenneth Worthington downgraded Franklin Resources (BEN) to Underweight from Neutral and lowered his price target for the shares to $29 from $32. The analyst believes the more recent weakness in emerging markets, and in particular in emerging market debt, will weigh on both Franklin's organic growth and earnings potential. He thinks challenges in emerging markets put additional pressure on "an already challenging growth story characterized by weak fund performance, significant outflows, and declining margins." Worthington continues to have a negative view on the asset management sector.
09/06/18
09/06/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. PG&E (PCG) upgraded to Buy from Hold at Argus with analyst Jacob Kilstein saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. 2. Arrowhead (ARWR) upgraded to Buy from Neutral at B. Riley FBR with analyst Madhu Kumar saying while the data presented this morning are early, they provide clinical proof of concept for Arrowhead's current hepatitis B virus franchise. 3. TSYS (TSS) upgraded to Outperform from Perform at Oppenheimer with analyst Glenn Greene saying he remains optimistic regarding the company's growth outlook and improving business mix going forward. 4. Vodafone (VOD) upgraded to Buy from Neutral at Citi with the firm saying it sees near-term upside in the shares amid improving conditions in Germany. 5. Inseego (INSG) upgraded to Buy from Hold at Canaccord with analyst T. Michael Walkley citing his 2020 estimates, which he raised following meetings with management. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/18
ARGS
09/06/18
UPGRADE
Target $54
ARGS
Buy
PG&E upgraded to Buy at Argus after its California legislative win
As reported earlier, Argus analyst Jacob Kilstein upgraded PG&E to Buy from Hold with a price target of $54, saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. The analyst also raised his FY18 EPS view to $3.82 from $3.72, while noting that the company's valuation of 12.3-times his expected FY18 earnings is well below the industry average of 18.1-times. Kilstein further anticipates PG&E to announce a timeline regarding its dividend reinstatement after being forced to suspend its quarterly payout on concerns about its potential wildfire damage responsibility estimated as high as $12B.

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FMC

FMC Corporation

$83.06

0.6 (0.73%)

05:32
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SUBCY

Subsea 7

$0.00

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RBS

RBS

$5.82

0.38 (6.99%)

05:28
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INOV

Inovalon

$15.04

0.2 (1.35%)

05:27
10/16/19
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05:27
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UTX

United Technologies

$136.17

0.26 (0.19%)

05:26
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    Oct

HOLX

Hologic

$49.44

0.94 (1.94%)

05:25
10/16/19
10/16
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05:25
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GLPG

Galapagos

$162.62

6.33 (4.05%)

05:24
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  • 25

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EPAY

Bottomline Technologies

$40.79

0.34 (0.84%)

05:21
10/16/19
10/16
05:21
10/16/19
05:21
Hot Stocks
Bottomline Technologies, Currencycloud partnership selected by Hargenant Group »

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CVLT

Commvault

$45.22

-0.24 (-0.53%)

05:20
10/16/19
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05:20
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AMZN

Amazon.com

$1,768.70

31.65 (1.82%)

05:19
10/16/19
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AWS selected as preferred cloud provider by Old Mutual Limited »

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WATT

Energous

$3.29

0.09 (2.81%)

05:16
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05:16
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Energous enters partnership with ZPower »

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TECD

Tech Data

$111.41

1.86 (1.70%)

, APO

Apollo Global

$39.39

0.63 (1.63%)

05:15
10/16/19
10/16
05:15
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Periodicals
Apollo offered to acquire Tech Data for $130 per share in cash, Reuters reports »

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TECD

Tech Data

$111.41

1.86 (1.70%)

APO

Apollo Global

$39.39

0.63 (1.63%)

03/08/13
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MOSC

Mosaic Acquisition

$10.29

0.005 (0.05%)

05:09
10/16/19
10/16
05:09
10/16/19
05:09
Initiation
Mosaic Acquisition initiated  »

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ASMB

Assembly Biosciences

$9.30

0.3 (3.33%)

05:06
10/16/19
10/16
05:06
10/16/19
05:06
Initiation
Assembly Biosciences initiated  »

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  • 29

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AVAV

AeroVironment

$57.14

0.02 (0.04%)

05:00
10/16/19
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05:00
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PSTG

Pure Storage

$17.65

0.2 (1.15%)

04:57
10/16/19
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BOALY

Boral

$0.00

(0.00%)

04:56
10/16/19
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04:56
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04:55
10/16/19
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Conference/Events
FBN Securities cannabis analysts to hold a breakfast meeting »

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MREO

Mereo BioPharma

$3.58

0.08 (2.29%)

04:55
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Conference/Events
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CHWY

Chewy

$26.80

1.03 (4.00%)

04:55
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Conference/Events
Chewy management to meet with JPMorgan »

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  • 16

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04:55
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Conference/Events
BTIG to hold a forum »

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Conference/Events
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Conference/Events
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JCOM

j2 Global

$96.34

0.47 (0.49%)

04:55
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Conference/Events
j2 Global management to meet with William Blair »

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AUY

Yamana Gold

$3.19

-0.1 (-3.04%)

04:55
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04:55
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Conference/Events
Yamana Gold management to meet with TD Securities »

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