Portland General Electric Company (POR) PT Raised to $47 at Mizuho

Mizuho analyst Paul Fremont raised the price target on Portland General Electric Company (NYSE: POR) to $47.00 (from $45.00) while maintaining a Neutral rating.

The analyst commented: "POR reported 3Q ongoing EPS of $1.00 slightly beating consensus of $0.99, maintained its 5%-7% ongoing EPS CAGR, and reaffirmed 2025 ongoing EPS guidance of $3.13-$3.33. Earlier this month, Gov. Tina Kotek's issued an executive order accelerating renewable development ahead of tax credits expiring. POR refreshed 2023 RFP prices to reflect OBBBA and trade tariff impacts, resulting in a shortlist filed with the commission earlier this month, with over $2B in tax credit value secured. The Seaside ARM was finalized in August and entered rates Friday, which we view as a clear positive. We await a decision on the Distribution System Plan ARM, as well as the HoldCo structure filing which is expected in mid-2026. Investors remain focused on wildfire risk; Oregon's legislature won't reconvene fully until 2027, delaying a potential rerating. We maintain our Neutral rating and update our PT to $47 based on current market multiples."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Cantor Fitzgerald Reiterates Overweight Rating on Applied Materials (AMAT)
• Freedom Broker Upgrades Serve Robotics (SERV) to Buy