{
  "id": 4595487,
  "title": "BMO Capital downgrades PG&E stock rating on wildfire concerns",
  "url": "https://urgent.news/2026/08/31/bmo-capital-downgrades-pg-e-stock-rating-on-wildfire-concerns",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T07:32:56.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/bmo-capital-downgrades-pge-stock-rating-on-wildfire-concerns-93CH-4882223"
  },
  "original_language": "en",
  "account": "BMO Capital has lowered its rating on PG&E Corporation's stock to Market Perform from Outperform, reducing its price target from $28.00 to $21.00. The firm has adjusted its liability assessments for wildfire risks, exceeding the 20% transmission and distribution liability cap for fires beyond 2030 due to a depleted fund and eliminated liability cap. Despite the downgrade, BMO Capital believes PG&E's stock remains undervalued, as it now trades at a notable discount to its peers, with a valuation of around 8 times earnings. The company's recent second-quarter core earnings of $0.40 per share exceeded expectations, but revenue of $5.9 billion fell short of the anticipated $6.12 billion. PG&E maintains its full-year core EPS guidance of $1.64 to $1.66. Meanwhile, UBS has maintained its Buy rating and $22.00 price target for PG&E, highlighting progress in California wildfire legislation, particularly a proposed $6 billion liability cap. However, PG&E's stock range-bound outlook persists without visible improvements in the state's wildfire framework, which could diminish investor interest.",
  "summary": null,
  "key_points": [
    "BMO Capital downgrades PG&E stock rating to Market Perform from Outperform.",
    "Reduces price target from $28.00 to $21.00 due to wildfire risk assessments.",
    "PG&E stock trades at 8 times earnings despite downgrade."
  ],
  "editors_take": "The downgrade reflects growing concerns that PG&E's wildfire liabilities will continue to weigh on its stock, despite BMO Capital seeing it as undervalued compared to peers.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}