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PG&E Corp's shares fell 1.1% to $17.02 after UBS downgraded its rating from "buy" to "neutral," citing concerns over the potential depletion of the state wildfire insurance fund and wildfire volatility. The brokerage reduced the price target by $3 to $19, while preferring Edison International, rated "buy." Despite the downgrade, PG&E's investment outlook includes 9% EPS growth and no equity needs through 2028, with a strong record in wildfire management since emerging from bankruptcy in 2020.
PG&E Corp shares fell 1.1% to $17.02 after UBS downgraded the utility's rating to "neutral" from "buy," citing concerns over the potential depletion of the state wildfire insurance fund and a lack of catalysts for stock re-rating. The price target was lowered by $3 to $19, while UBS expressed a preference for Edison International, rated "buy." Despite challenges, PG&E shows positive attributes, including 9% EPS growth and no equity needs until 2028, with 12 out of 19 brokerages still recommending "Strong Buy" or "Buy."
UBS has upgraded Edison International to "Buy" from "Neutral," citing the stock's undervaluation in light of its wildfire exposure and California's $21 billion wildfire fund. The price target was lowered to $65 from $69, reflecting a greater wildfire discount, but the firm maintains a positive long-term outlook, anticipating favorable developments in early 2025 that could enhance Edison’s earnings trajectory.
Edison International has been upgraded to a Buy rating from Neutral by UBS, signaling a positive shift in the investment outlook for the company. This change reflects increased confidence in Edison International's performance and potential growth.
UBS has upgraded Edison International's stock rating from Neutral to Buy, while lowering the price target to $65, as the stock trades near its 52-week low. Concerns about future wildfires overshadow the recent Eaton fire incident, although the company maintains a solid 6.61% dividend yield. Meanwhile, Jefferies has cut its price target to $69, and S&P Global Ratings has revised the company's credit outlook to negative due to potential wildfire liabilities.
UBS has upgraded Edison International from "Neutral" to "Buy," lowering its price target from $69 to $65, as the stock trades near a 52-week low. Analyst Gregg Orrill notes the stock is undervalued, trading at a 52% discount to its projected 2027 price-to-earnings ratio, amid concerns over future wildfire impacts. Despite challenges, Edison maintains a solid 6.61% dividend yield and has paid dividends for 22 consecutive years.
FMR LLC increased its stake in Edison International by 8.7% in Q3, now holding 21.8 million shares valued at nearly $1.9 billion. UBS Group lowered its price target for the stock from $87 to $69, maintaining a "neutral" rating, while analysts generally rate it as a "Moderate Buy" with a consensus target of $83.58. Edison International reported Q3 earnings of $1.51 per share, surpassing estimates, with revenue rising 10.6% year-over-year to $5.2 billion.
The Dow Jones Industrial Average rose 0.1%, buoyed by UnitedHealth's nearly 4% gain, while Nvidia fell nearly 3% due to new AI export restrictions. Howard Hughes surged over 9% following Bill Ackman's acquisition offer, contrasting Abercrombie & Fitch's nearly 20% plunge despite raising holiday sales guidance. The Nasdaq composite dropped over 1%, with Constellation Energy and Micron Technology among the biggest losers.
The S&P 500 and Nasdaq fell as U.S. Treasury yields remained high, with the S&P 500 hitting a two-month low amid concerns over inflation and delayed rate cuts from the Federal Reserve. The Dow rose, driven by gains in health care stocks following proposed Medicare reimbursement increases. Energy stocks outperformed, climbing 2.4% as crude prices rose amid expectations of U.S. sanctions on Russian oil.
Shares of Mercury Insurance fell 6.5% amid ongoing wildfires in California, which have caused significant damage, particularly in Pacific Palisades. Travelers received a double-upgrade from Goldman Sachs, with analysts predicting manageable insurance losses from the fires, estimated between $52 billion and $57 billion. The impact on insurance stocks is notable, with Travelers and Allstate expected to face substantial claims.
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PG&E shares decline after UBS downgrades rating to neutral
16:17 19.03.2025
pg and e shares decline after ub s downgrades to neutral
16:17 19.03.2025
ubs upgrades edison international to buy citing undervalued wildfire exposure
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Edison International receives upgrade to buy rating from UBS
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ubs upgrades edison international stock rating while lowering price target to 65
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ubs upgrades edison international to buy lowers price target to 65 dollars
12:05 18.02.2025
institutional investors increase stakes in edison international amid mixed analyst ratings
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