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PCG

PG&E

$7.98

0.76 (10.53%)

12:00
01/22/19
01/22
12:00
01/22/19
12:00

PG&E rises 10.4%

PG&E is up 10.4%, or 75c to $7.98.

PCG PG&E
$7.98

0.76 (10.53%)

01/18/19
RBCM
01/18/19
NO CHANGE
Target $8
RBCM
Sector Perform
PG&E price target lowered to $8 from $45 at RBC Capital
RBC Capital analyst Shelby Tucker lowered his price target on PG&E to $8 from $45 with a rating of "Sector Perform - Speculative Risk," saying the company's decision to file for voluntary bankruptcy is surprising. The analyst notes that the filing and the magnitude/complexity of claims related to the wildfire could drag the company's emergence from Chapter 11 "into extra innings." Given the potential for further wildfire liabilities and a less constructive regulatory environment, Tucker says the severely discounted valuation on PG&E stock of 2-times forward earnings is warranted.
01/17/19
LEHM
01/17/19
NO CHANGE
Target $7
LEHM
Equal Weight
PG&E price target lowered to $7 from $19 at Barclays
Barclays analyst Eric Beaumont cut his price target for PG&E shares to $7 from $19 to reflect the company's intention to file Chapter 11 and disclosure of preliminary wildfire liability estimates. The analyst continues to see "paths to significant upside and downside." He highlights the risk for Chapter 11 proceedings to last longer than five years given the size of liabilities, legal complexity of wildfire claims, and his belief that PG&E "will struggle to emerge in the absence of material reform to inverse condemnation policy." Beaumont reiterates an Equal Weight rating on the shares.
01/16/19
WELS
01/16/19
DOWNGRADE
Target $10
WELS
Market Perform
PG&E downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Neil Kalton downgraded PG&E to Market Perform and lowered his price target for the shares to $10 from $15. The company's Chapter 11 bankruptcy path, for which there has been little evidence of being averted, is likely to be "highly complex and lengthy," Kalton tells investors in a research note. The analyst, while believing there could be "meaningful" residual equity value at the end of a bankruptcy process, deems it prudent to move to the sidelines with respect to PG&E shares at this time.
01/15/19
01/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PG&E (PCG) downgraded to Sell from Buy at Argus with analyst Jacob Kilstein citing the company's announcement that it will declare bankruptcy based on the potential for $30B in liability costs related to its role in California wildfire, the lack of financing, and the absence of the state government intervention. 2. SL Green Realty (SLG) downgraded to Neutral from Buy at Goldman Sachs with analyst Andrew Rosivach saying he believes the market will value at a lower multiple than real estate ownership. 3. Atlassian (TEAM) and Yext (YEXT) were downgraded to Underweight from Equal Weight at Morgan Stanley while Oracle (ORCL), VMware (VMW), and Autodesk (ADSK) were downgraded to Equal Weight from Overweight. 4. Brookfield Business Partners (BBU) downgraded to Sector Perform at RBC Capital. 5. Edison International (EIX) downgraded to Underperform from Neutral at BofA/Merrill with analyst Julien Dumoulin-Smith citing the challenging operating environment in California following the PG&E (PCG) Chapter 11 filing. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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BA

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GLD

SPDR Gold Shares

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DZSI

DASAN Zhone

$12.10

-0.12 (-0.98%)

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REPH

Recro Pharma

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DZSI

DASAN Zhone

$12.10

-0.12 (-0.98%)

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DJX

Dow Jones Industrial Average

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S&P 500

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SPDR S&P 500 ETF Trust

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CATS

Catasys

$13.19

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USWS

U.S. Well Services

$7.74

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ADIL

Adial Pharmaceuticals

$2.97

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STNG

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NAVB

Navidea

$0.14

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SPY

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BA

Boeing

$362.49

-10.2 (-2.74%)

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AAPL

Apple

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  • 25

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RIVE

Riverview Financial

$11.20

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RIVE

Riverview Financial

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