BMO Capital initiated coverage of PG&E with an Outperform rating and $21 price target The firm sees the company shares as a core holding in the regulated utility sector, providing investors with exposure to a “rare deep value opportunity with premium visible growth.” BMO’s five-year forecast supports consolidated earnings growth of 9.2% and rate base growth of 10%, which is consistent with the company’s long-term earnings guidance of at least 9%, the analyst tells investors in a research note.
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