UPDATE: Goldman Sachs Upgrades Portland General Electric Company (POR) to Neutral, 'Fair Valuation'

March 15, 2021 4:25 PM EDT
Get Alerts POR Hot Sheet
Price: $49.47 +0.14%

Rating Summary:
    4 Buy, 13 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 8 | New: 31
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(Updated - March 15, 2021 4:26 PM EDT)

Goldman Sachs analyst Insoo Kim upgraded Portland General Electric Company (NYSE: POR) from Sell to Neutral with a price target of $49.00 (from $40.00).

The analyst comments "We upgrade Oregon-based regulated utility Portland General Electric (POR) to Neutral from Sell as we see the company’s recent challenges — including COVID-related financial impact and the recent wildfire/winter events — normalizing and view the company’s long-term 4-6% EPS CAGR as largely intact. Despite our more constructive view, the stock now trades at just a 5% P/E discount to Regulated Utilities on 2022E, which we believe fairly reflects the company’s average growth profile, as well as some regulatory uncertainty related to the planned 2021 rate case filing. Our revised $49 price target reflects a 7% total return versus 14% for regulated peers. Since being added to the Americas Sell list on 6/5/2016, POR is up 8.5% versus the XLU up 22.1% and the S&P500 up 90.1%."

For an analyst ratings summary and ratings history on Portland General Electric Company click here. For more ratings news on Portland General Electric Company click here.

Shares of Portland General Electric Company closed at $47.48 yesterday.

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