PG&E surpasses 1 million grid-connected solar customers while Morgan Stanley and Truist cut price targets to $22 from $23.
PG&E Corporation (NYSE:PCG) reached a milestone of 1 million customers with solar systems connected to its grid on June 4, 2026. The company leads U.S. utilities in solar adoption, according to its executive vice president of strategy and growth.
Two analysts recently reduced their price targets on PCG shares. Morgan Stanley lowered its target to $22 from $23 on May 21, maintaining an “Equal Weight” rating. Truist made a similar cut on May 18, keeping a “Buy” rating. Both adjustments followed broader sector updates amid rising data center investment expectations.
The firm highlighted vertically integrated electric utilities as key beneficiaries of infrastructure demand driven by load growth in the sector’s third year of the data center wave.