JPMorgan Raises its Price Target on PG&E Corporation (PCG) to $24 from $21

PG&E Corporation (NYSE:PCG) is one of the 8 Must-Buy Nuclear Energy Stocks to Invest In. On March 18, 2026, JPMorgan raised the price target on PG&E Corporation (NYSE:PCG) to $24 from $21 and maintained an Overweight rating after updating models across the North America utilities group.

On March 9, 2026, UBS upgraded PG&E Corporation (NYSE:PCG) to Buy from Neutral and raised its price target to $23 from $20. UBS said improvements in California wildfire policy and affordability could drive upside, noting that potential phase two legislation ahead of the July 2 recess may reduce the company’s liability exposure. The firm added that PG&E’s current 43% price-to-earnings discount could narrow “meaningfully” as risks continue to decline.

Last month, PG&E Corporation (NYSE:PCG) reported Q3 core EPS of 36c, in line with the 36c consensus estimate. CEO Patti Poppe said the company made “real progress” in 2025, highlighting efforts to deliver safe, reliable, and affordable energy while lowering electric prices multiple times and preventing major wildfires for a third consecutive year. Poppe added that safety, reliability, and affordability remain central to the company’s priorities.

PG&E Corporation (NYSE:PCG) provides electricity and natural gas services to customers across northern and central California.

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