UPDATE: Deutsche Bank Initiates Portland General Electric Company with Buy, $27.50 on Catalysts Potential

Deutsche Bank initiates its coverage on Portland General Electric Company

with a Buy rating and a price target of $27.50. Deutsche Bank notes, "We are initiating coverage of POR with a Buy based on the utility's aboveaverage growth opportunities as well as the current 10% trading discount versus regulated peers. We expect progress on the new generation requests for proposals pending before the Oregon PUC and the Cascade Crossing transmission project to serve as key positive catalysts over the next 6-12 months, narrowing POR's discount and highlighting the growth potential." POR closed at $25.14 on Monday.