UBS reiterates PG&E stock Buy rating on wildfire legislation outlook

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UBS has reiterated a Buy rating and a $23.00 price target for PG&E Corporation (NYSE:PCG), driven by anticipated progress in California’s wildfire legislation. The firm highlighted PG&E’s strong earnings per share growth among utilities and its current undervaluation based on InvestingPro data, despite a recent 12% stock decline. Upcoming legislative hearings and the gubernatorial race are identified as key catalysts that could impact the stock.

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