-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下：我们维持对PCG未来12个月的目标价为14美元，基于8.7倍的2026年每股收益预期，远低于同行19.7倍的平均水平，这反映了PCG较低的股息收益率（1.2%）、野火责任方面的监管不确定性，以及该公司在2020年破产重组后仍存在的谨慎情绪。我们将2026年每股收益预期上调0.03美元至1.64美元，并将2027年每股收益预期上调0.07美元至1.80美元。由于管理层表示，如果SB 254第二阶段立法未能提供野火尾部风险建模的能力，PCG 730亿美元的资本支出计划可能会面临更大的不确定性。令人欣喜的是，野火防范工作持续取得显著进展。本季度，PCG在火灾高风险地区完成了31英里输电线路的地下化改造，并安装了44英里加固电线杆和覆层线路。我们认为，无论从实际操作还是资金投入来看，野火风险防范工作都将为未来几年高于平均水平的每股收益增长提供支撑。我们预计2026年营收增长5.5%，2027年增长3.1%。
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Research Alert: Arc Resources To Be Acquired By Shell For Cad22b, Growing Lng Canada Synergies
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