Morgan Stanley Raises PG&E (PCG) PT to $21 on Utilities’ Data Center Focus

Group 1 - PG&E Corporation (NYSE:PCG) is considered one of the best large-cap stocks to buy under $20, with a recent price target increase from Morgan Stanley to $21 from $19.50 while maintaining an Equal Weight rating [1] - Morgan Stanley noted that utilities have outperformed the S&P and expects a focus on the evolution of data center pipelines for Q3 2025, which is relevant for PG&E [2] - PG&E, through its subsidiary Pacific Gas and Electric Company, provides electricity and natural gas to customers in northern and central California [3]