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PCG

PG&E

$23.76

0.73 (3.17%)

19:09
12/19/18
12/19
19:09
12/19/18
19:09

PG&E announces restoration of power to all customers in Butte County

As part of its commitment to help its customers and communities with the recovery and rebuilding process, Pacific Gas and Electric Company said that nearly all customers in Paradise and surrounding areas who are able to receive electric service have now been restored. Since Camp Fire restoration started, approximately 10,000 electric customers who can receive service now have power. On Sunday, December 16, PG&E crews restored electric service to essentially all customers who can receive power within the fire footprint, with work continuing this week to reach a few isolated homes and businesses. Gas service restoration efforts continue on schedule, and most customers who can receive gas service are expected to be restored by next month with all customers projected to be restored by March 2019. Individual restorations for electric or gas service in the fire-impacted area may not be possible. In those instances, PG&E will be working with local leaders on a longer-term plan to rebuild the electric and gas system.

PCG PG&E
$23.76

0.73 (3.17%)

12/10/18
WELS
12/10/18
NO CHANGE
Target $47
WELS
Outperform
PG&E price target lowered to $47 from $60 at Wells Fargo
Wells Fargo analyst Neil Kalton lowered his price target for PG&E to $47 from $60 to take into account potential wildfire liabilities. The analyst reiterates an Outperform rating on the shares.
11/19/18
MSCO
11/19/18
NO CHANGE
Target $31
MSCO
Equal Weight
PG&E break-up could be constructive to valuation, but risky, says Morgan Stanley
After California Public Utilities Commission President Michael Picker said the Commission would explore potentially breaking up PG&E, Morgan Stanley analyst Stephen Byrd said he believes a break-up could be constructive to the stock's valuation, but he also sees significant risks to such an approach, identifying the key risk as the regulator, and potentially lawmakers, seeking greater asset coverage for wildfire-related damages beyond the value of the electric utility. He also notes the risk that damages from the Camp Fire could increase from current estimates, given potential liabilities for wrongful death and for air quality damages. Byrd maintains an Equal Weight rating and $31 price target on PG&E shares.
11/19/18
LEHM
11/19/18
NO CHANGE
Target $30
LEHM
Equal Weight
PG&E price target lowered to $30 from $53 at Barclays
Barclays analyst Eric Beaumont lowered his price target for PG&E to $30 citing the risks and "unquantifiable" potential future liabilities from wildfires. His assumed book value for 2019 represents PG&E's currently forecasted book value of $21.7B, less $6B in 2017/2018 wildfire liability to arrive at $18.7B. He remains Equal Weight on the shares but "would see any investment at this point as involving significant risk."
11/16/18
11/16/18
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. Qualcomm (QCOM) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst James Faucette saying he thinks consensus estimates now imply a more realistic scenario for QCT margins and that lowered expectations on a resolution with Apple (AAPL) gives room for the stock to react positively should legal proceedings trigger a settlement. 2. Spark Therapeutics (ONCE) upgraded to Neutral from Underperform at Credit Suisse with analyst Martin Auster saying with uniQure's (QURE) update validating AMT-061, its second generation hemophilia B gene therapy construct incorporating the Padua variant, and Freeline's initial data disclosed in ASH abstracts, he sees a more competitive landscape in hemophilia B gene therapy, and lowered his market share assumptions for SPK-9001 to reflect this new dynamic. 3. Armstrong Flooring (AFI) upgraded to Buy from Hold at Gabelli with analsyt Alvaro Lacayo saying the sale of the wood business is a transformative deal and removes two underperforming segments that have been under increased pressure from private label competition. 4. DSW (DSW) upgraded to Neutral from Negative at Susquehanna. 5. PG&E (PCG) and Edison International (EIX) were upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

ALXN

Alexion

$104.85

3.455 (3.41%)

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$3.66

0.115 (3.25%)

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AMZN

Amazon.com

$1,768.70

31.65 (1.82%)

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Oracle

$56.35

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ORCL

Oracle

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-0.1 (-0.18%)

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BTI

British American Tobacco

$34.60

0.245 (0.71%)

, MO

Altria Group

$43.43

0.72 (1.69%)

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BTI

British American Tobacco

$34.60

0.245 (0.71%)

MO

Altria Group

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0.72 (1.69%)

IMBBY

Imperial Brands

$0.00

(0.00%)

PM

Philip Morris

$78.32

0.28 (0.36%)

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RYAM

Rayonier Advanced Materials

$4.70

0.21 (4.68%)

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CP

Canadian Pacific

$218.42

3.27 (1.52%)

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RYTM

Rhythm Pharmaceuticals

$20.90

0.52 (2.55%)

06:24
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Syndicate
Rhythm Pharmaceuticals 8.11M share Spot Secondary priced at $18.50 »

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  • 16

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PRQR

ProQR Therapeutics

$6.21

-0.09 (-1.43%)

06:23
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Syndicate
ProQR Therapeutics 9.091M share Spot Secondary priced at $5.50 »

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  • 17

    Oct

SSNLF

Samsung

$0.00

(0.00%)

06:23
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10/16
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Periodicals
Samsung places further EUV equipment orders, DigiTimes reports »

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  • 27

    Oct

RYTM

Rhythm Pharmaceuticals

$20.90

0.52 (2.55%)

06:23
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10/16
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Syndicate
Rhythm Pharmaceuticals 8.108M share Spot Secondary priced at $18.50 »

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  • 16

    Oct

PRNB

Principia Biopharma

$29.88

0.7 (2.40%)

06:22
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Syndicate
Principia Biopharma 7.5M share Spot Secondary priced at $28.00 »

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  • 16

    Oct

EURN

Euronav NV

$10.72

-0.605 (-5.34%)

06:21
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  • 29

    Oct

BA

Boeing

$370.99

-2.05 (-0.55%)

, EADSY

Airbus

$0.00

(0.00%)

06:20
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Periodicals
Entry date for Boeing's 777-8 depending on customer demand, Reuters reports »

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Boeing

$370.99

-2.05 (-0.55%)

EADSY

Airbus

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  • 23

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XOG

Extraction Oil & Gas

$2.65

-0.05 (-1.85%)

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  • 07

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CNI

Canadian National

$86.78

0.38 (0.44%)

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INOV

Inovalon

$15.04

0.2 (1.35%)

06:19
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WAB

Wabtec

$67.83

1.185 (1.78%)

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ADBE

Adobe

$279.40

1.61 (0.58%)

06:15
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PLMR

Palomar

$40.61

-0.26 (-0.64%)

06:13
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Initiation
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AXSM

Axsome Therapeutics

$20.65

2.42 (13.27%)

06:12
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Initiation
Axsome Therapeutics initiated  »

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SNBR

Sleep Number

$46.69

0.48 (1.04%)

06:11
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CNI

Canadian National

$86.78

0.38 (0.44%)

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PLMR

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CP

Canadian Pacific

$218.42

3.27 (1.52%)

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  • 23

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MCK

McKesson

$138.17

4.01 (2.99%)

, ABC

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$83.18

1.6 (1.96%)

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MCK

McKesson

$138.17

4.01 (2.99%)

ABC

AmerisourceBergen

$83.18

1.6 (1.96%)

CAH

Cardinal Health

$47.93

1.16 (2.48%)

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I

Intelsat

$26.09

1.09 (4.36%)

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