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

In a report published on Monday, D.A. Davidson analyst Michael Bates downgraded Portland General Electric 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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesAnalyst RatingsD.A. DavidsonMichael Bates
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!