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UPDATE: D.A. Davidson Downgrades Portland General Electric on Fair Valuation

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Deutsche Bank: Utility Sector Won't Repeat FY14 Outperformance
UPDATE: Deutsche Bank Downgrades Portland General Electric

In a report published on Monday, D.A. Davidson analyst Michael Bates downgraded Portland General Electric (NYSE: POR) from Buy to Neutral and lowered the price target from $35 to $33.

In the report, D.A. Davidson commented, "Shares of POR have returned roughly 50% (including dividends) to holders since we recommended the stock two years ago. With active development of the utility’s key growth projects underway, we continue to expect solid rate base and earnings growth through 2017, but believe the stock’s risk/reward profile is adequately reflected at the current price."

Portland General Electric closed Friday at $31.71.

Latest Ratings for POR

DateFirmActionFromTo
Dec 2014Deutsche BankDowngradesBuyHold
Oct 2014Deutsche BankMaintainsBuy
Oct 2014BarclaysMaintainsOverweight

View More Analyst Ratings for POR
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Michael BatesAnalyst Color Downgrades Analyst Ratings

 

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