PG&E price target raised to $23 from $21 at Mizuho

Mizuho raised the firm’s price target on PG&E to $23 from $21 and keeps a Buy rating on the shares. The Q1 earnings call cycle was challenging for the three California utilities but all three have large valuation gaps and supportive California regulation, the analyst tells investors in a research note. The firm increased price targets to reflect higher market multiples.