by karmalizing
Where am I putting my AVCT money from my last DD?
PCG.
Backstory
PG&E went into bankruptcy in 2018 after being held liable for two massive wildfires in Northern California.
They are coming out of Bankruptcy this week, after the deal has been signed-off on by the Governor, 5/5 Regulators, and 88% of the Fire Victims.
Bankruptcy Ending
Only one Judge is left to approve the deal, and he has previously said he will go along with what the Fire Victims want / vote for.
The stock is expected to pop to $13 – $14 right away, and eventually hit $18 – $21.
Analyst Ratings
It won’t hit previous highs of $60-$70 as the shares are being diluted as part of the deal, but expect $20-$25 within a year or two.
https://seeking alpha.com/article/4352795-pg-and-e-capitalized-to-soar
Barclays (LON:BARC) analyst Eric Beaumont maintained a Buy rating on Pacific Gas & Electric Co (NYSE:PCG). on Tuesday, setting a price target of $16, which is approximately 27.29% above the present share price of $12.57.
Summary
Last chance to get this stock at $12 today. This will hit $13 by EOW and the Judge could announce any day now.
Strikes:
- PCG 6/26 14c
- PCG 9/18 16c
Shares are also a good deal for a very low risk play.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.