UPDATE: DA Davidson Raises Target on Portland General Electric

DA Davidson raies its target price on Buy-rated Portland General Electric POR by $1 to $29 on as earnings for Q4 were dragged down by non-recurring items. DA Davidson comments, "Portland General Electric reported 4Q'11 EPS of $0.38, compared to $0.34 a year ago. 4Q'10 results included $0.19 of earnings drag tied to Oregon's now-repealed utility tax law (SB 408) and a $0.04 earnings benefit attributable to noncontrolling interests. We were forecasting $0.45. ... These nonrecurring earnings drags reduced quarterly EPS by ~$0.10." POR closed at $24.75 a share yesterday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsDA Davidson
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!