"UBS expects the stock's 43% price-to-earnings discount to narrow "meaningfully" with continued risk reduction. PG&E's data center pipeline stands at 3.6 GW in final engineering, up from 1.6 GW in Q3 2025, representing a significant load growth catalyst. Management guided for 2026 non-GAAP core EPS of $1.64 to $1.66, with a $73 billion five-year capital plan requiring no new common equity."
"The forward P/E of 11x relative to a 9%+ annual EPS growth target through 2030 is the gap UBS believes the market will eventually close. The stock trades at $18.05, still roughly 22% below UBS's target, and is up 13.13% year to date. The consensus analyst target sits at $22.20, with 13 analysts rating the stock Buy or Strong Buy against just 4 Holds and zero Sells."
"Raymond James upgraded Algonquin Power & Utilities to Outperform from Market Perform, with a price target raised to $7.25 from $6.50. The firm's view: the share pullback following the revision of 2027 EPS guidance is overdone, and with cost discipline taking hold and continued constructive outcomes across key rate cases, Algonquin remains on track to strengthen its core regulated operations."
UBS upgraded PG&E to Buy with a $23 price target, citing improvements in California wildfire policy and a significant data center pipeline of 3.6 GW. The stock trades at a 43% P/E discount expected to narrow meaningfully. Raymond James upgraded Algonquin Power to Outperform, arguing recent share pullback is overdone despite 2027 EPS guidance revision, with cost discipline and favorable rate cases supporting recovery. Barclays initiated Avista with a neutral stance. These upgrades reflect distinct theses on risk reduction, valuation recovery, and regulated utility growth catalysts across the sector.
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