PG&E price target raised to $17.50 from $16.50 at Morgan Stanley

Morgan Stanley analyst David Arcaro raised the firm’s price target on PG&E to $17.50 from $16.50 and keeps an Underweight rating on the shares. The firm is updating its price targets for North American Regulated and Diversified Utilities/IPPs, the analyst tells investors. In February, utilities outperformed the S&P’s -1.30% return, the firm says. Key takeaways from the firm’s annual Energy & Power Conference includes continued strong demand from data centers; regulatory uncertainty in power markets; renewables defense with safe harboring, equipment onshoring, and rising return levels; and new generation build challenges, the firm notes.