UPDATE: Deutsche Bank Downgrades Portland General Electric Alert to Hold Citing Passing of Primary Catalyst

In a report published on Wednesday, Deutsche Bank analyst Lauren Duke downgraded Portland General Electric Alert

to Hold from Buy and maintained a price target of $32. In the report, Deutsche Bank noted, "With the key positive catalyst (favorable resolution of the generation RFPs) having passed, we believe the stock is fairly valued at current levels. We do not see another significant positive catalyst on the horizon and believe there are execution risks associated with the new generation projects, particularly given the Oregon regulatory construct". Portland General Electric Alert closed on Tuesday at $32.25.