PG&E Statement on Senate Bill 492

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Go back to PG&E Statement on Senate Bill 492

Mizuho Downgrades PG&E Corporation (PCG) to Neutral

August 31, 2026 5:41 AM EDT

Mizuho 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