PCG - PG&E: Industry-Leading EPS Growth Dividend Likely On The Way Reiterate Buy

2023-05-21 22:31:01 ET

Summary

• The Utilities sector P/E has fallen slightly lately, but the group remains valued about 17 times next-12-month EPS.
• I continue to have a favorable outlook on PCG shares given its bottom-line growth trajectory and likely dividend reinstatement later this year.
• With a low-teens P/E, I see a fair value more than 15% higher from current levels.
• I outline key price levels to watch on the chart.

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