PG&E Downgraded by Wells Fargo and BMO Amid Wildfire Reform Concerns

By EC Assets · Published 31 August 2026

PG&E has received downgrades from both Wells Fargo and BMO. These downgrades occurred as California wildfire reform reportedly fell short. Wells Fargo & Company operates as a financial services company. It provides diversified banking, investment, mortgage, and consumer and commercial finance products and services. Wells Fargo offers its services in the United States and internationally. Bank of Montreal (BMO) recently saw its price target increased by 11.28% to 188.53. This data indicates a positive outlook on BMO shares from some analysts, despite its downgrade of PG&E. This article is intended for informational purposes only. It does not constitute investment advice.