Deutsche Bank Upgrades PG&E Corporation (PCG) to Buy; Favorable Risk/Reward

Deutsche Bank upgraded PG&E Corporation (NYSE: PCG) from Hold to Buy, price target lowered by $1 to $44.

Deutsche analyst says, "We are upgrading PCG to Buy on a favorable risk/reward outlook and potential positive catalyst (new CEO announcement). PCG hit a new 52-week low earlier this week after a challenging year with the San Bruno explosion continuing to generate negative news headlines (and ultimately costing the previous CEO his job in April). We also note that PCG's indication this quarter that pipeline-related costs (testing and record-gathering) are coming in below the high end of the range - a first positive datapoint after a period of relentlessly negative newsflow."

For more ratings news on PG&E Corporation click here and for the rating history of PG&E Corporation click here.

Shares of PG&E Corporation closed at $40.65 yesterday.

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