PG&E Faces Growing Risk from Wildfire Liability Inaction -- Market Talk

1502 ET - PG&E is dealing with a growing risk from inaction on wildfire liability reform, UBS analysts say, downgrading the stock to neutral from buy. While the analysts expect work on wildfire legislation to continue, there hasn't been action. California Governor Gavin Newsom has spoken about a potential special session on AI, but hasn't mentioned something similar for wildfire reform, the analysts say. They see the delay in a wildfire reform resolution as a negative for PG&E's performance. UBS cuts its price target on the stock to $14 from $19, and lowers its estimate for 2028 earnings per share to $1.90 from $1.95. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

September 23, 2026 15:02 ET (19:02 GMT)