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home / news releases / XLU - PG&E: A Weak Start To 2024 Undervalued With EPS Growth Ahead

XLU - PG&E: A Weak Start To 2024 Undervalued With EPS Growth Ahead

SPDR Select Sector Fund - Utilities

2024-03-15 17:48:03 ET

Summary

  • The Utilities sector has struggled amid higher interest rates - the 10-year yield is now near multi-month highs above 4.3%.
  • PG&E Corporation shows solid profitability trends and attractive valuation compared to peers, and I expect multiple expansion over time.
  • Technical analysis suggests potential upside for PG&E Corporation shares despite current weakness - I highlight key price levels to watch on the chart.

The Utilities sector continues to struggle amid much higher interest rates today compared to years ago. The benchmark 10-year US Treasury yield (US10Y) is set to end the week above 4.3% for the first time since November 2023....

For further details see:

PG&E: A Weak Start To 2024, Undervalued With EPS Growth Ahead
Stock Information
Company Name: SPDR Select Sector Fund - Utilities
Stock Symbol: XLU
Market: NYSE
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