PG&E and Edison International fall after lawmakers block wildfire plan
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Mizuho Downgrades PG&E Corporation (PCG) to Neutral
August 31, 2026 5:41 AM EDTMizuho analyst Anthony Crowdell downgraded PG&E Corporation (NYSE: PCG) from Outperform to Neutral with a price target of $16.00 (from $21.00).
The analyst comments "We are downgrading the California utilities to Neutral from Outperform due to the failure of the state legislature to pass meaningful reform. Friday was the last day for bills to be introduced, and the legislature passed SB 492, which does not do the two things we believed were required to re-rate California utilities: 1) provide a replenishment mechanism or evergreen fund that will... More
