PG&E, Algonquin Power, and Avista Draw Wall Street Attention with Upgrades and Initiations

PG&E, Algonquin Power, and Avista are drawing new analyst interest in the utility sector. PG&E was upgraded to Buy with a $23 target, Algonquin to Outperform with a $7.25 target, and Avista initiated with an Equal Weight rating of $40. The upgrades reflect progress in California wildfire legislation for PG&E and Algonquin's regulated business strength despite guidance cuts, while falling Treasury yields boost sector-wide utility valuations.