Analyst Maintains ‘Equal Weight’ Rating on PG&E Corporation (PCG), Price Target Reduced

Core Viewpoint - PG&E Corporation (NYSE:PCG) is experiencing adjustments in price targets from analysts, reflecting a cautious outlook amidst broader market trends, particularly in the utility sector driven by data center demand growth [2][3]. Price Target Adjustments - Morgan Stanley reduced its price target for PG&E from $21 to $20 while maintaining an 'Equal Weight' rating, emphasizing the influence of data centers on utility performance and cautioning against companies under affordability scrutiny due to the upcoming election year [2]. - JPMorgan also lowered its price target from $22 to $21, indicating a potential upside of nearly 33% from the current share price, while keeping an 'Overweight' rating on the stock [3]. Dividend Announcement - PG&E Corporation announced a doubling of its quarterly dividend to $0.05 per share, payable on January 15, 2026, to shareholders on record as of December 31, resulting in an annual dividend yield of 1.26% [3]. Market Context - The performance of utility companies, including PG&E, is expected to be significantly influenced by the demand from data centers, particularly as major tech firms invest heavily in AI [2].