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PCG

PG&E

$7.82

-0.21 (-2.62%)

15:29
01/24/19
01/24
15:29
01/24/19
15:29

PG&E reopens, up 77% to $14.18 after Cal Fire report on Tubbs Fire

PCG PG&E
$7.82

-0.21 (-2.62%)

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.
01/17/19
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.
01/18/19
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.
01/24/19
SBSH
01/24/19
NO CHANGE
Target $11
SBSH
Neutral
PG&E bankruptcy not worth it if IC can't be addressed, says Citi
Citi analyst Praful Mehta thinks PG&E's rationale for filing for Bankruptcy protection includes removing the overhang of a long and drawn out process to settle damages related to 2017 and 2018 fires, to circumvent a slow moving California Public Utilities Commission and to push legislators to take additional action to fix a broken law relating to inverse condemnation. However, if inverse condemnation cannot be addressed through bankruptcy, then filing for Chapter 11 will not be worth it, Mehta tells investors in a research note. Also, the potential negative consequences of a Chapter 11 could be a strained relationship with legislators and regulators that further delays dealing with wildfire issues, adds the analyst. He keeps a Neutral rating on PG&E with an $11 price target.

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UNIT

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SPX

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CELG

Celgene

$88.99

-0.11 (-0.12%)

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ALXN

Alexion

$132.07

-0.87 (-0.65%)

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$0.00

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MU

Micron

$40.38

(0.00%)

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Micron options imply 11.0% move in share price post-earnings, above median historical move »

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TSN

Tyson Foods

$65.30

-0.48 (-0.73%)

14:48
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Tyson Foods call buyer gobbles another 10K lot »

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$0.00

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0.41 (0.15%)

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Wells Fargo

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SPR

Spirit AeroSystems

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KMX

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BBBY

Bed Bath & Beyond

$13.69

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DB

Deutsche Bank

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