UPDATE: Deutsche Bank Downgrades Portland General Electric

Analysts at Deutsche Bank downgraded Portland General Electric Company (NYSE: POR) from Buy to Hold and raised their price target from $37.00 to $38.00. Portland General Electric is a utility company that generates and provides electricity throughout the state of Oregon.

The Numbers

Deutsche Bank analyst Jonathan Arnold expects that 2015 will be a “transitional” year for Portland General Electric in which the risk and reward of owning the company’s stock will be nearly balanced. “With POR’s integrated resource plan (IRP) not expected until 2016, we see limited catalysts in 2015 to bring clarity on the next wave of potential growth.”

Insider Selling

In May of 2014, Portland General Electric Senior Vice President Maria Pope sold $274,438 worth of Portland General Electric stock at a price of $32.80.

Little Upside Potential

Portland General Electric closed Wednesday at $38.12, up 1.17 percent. Deutsche Bank’s $38 price target represents about a 1.1 percent upside for the stock from current levels. Portland General Electric has already had an exceptional 2014, up more than 26 percent year-to-date.

Other Analyst Action

Deutsche Bank’s downgrade is the latest analyst action on Portland General Electric, but Barclays weighed in on the stock earlier this year. In October, Barclays reiterated an Overweight rating and raised its price target to $39.00.