UBS analyst Gregg Orrill downgraded Portland General Electric (POR) to Neutral from Buy with a price target of $47, down from $52, because recent regulatory decisions have altered the firm’s thesis and leads it to see “a more balanced risk/reward.” The December 20 rate case decision authorized a “low” 9.34% ROE and only 45% of the base request, which means Portland General likely has to cut costs to deliver on fourth quartile 5%-6% EPS growth, the analyst tells investors.
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Read More on POR:
- Portland General Electric downgraded to Neutral from Buy at UBS
- Portland General Electric price target lowered to $43 from $46 at BofA
- Portland General Electric price target lowered to $51 from $52 at KeyBanc
- Portland GE Aims for 100% Emission Reduction by 2040
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
