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Investing.com - Mizuho has raised its price target on Portland General Electric Company (NYSE:POR) to $47.00 from $45.00 while maintaining a Neutral rating on the stock. The new target sits close to POR’s current trading price of $45.68, with the stock currently trading near its 52-week high of $48.40. InvestingPro data shows analyst targets for the utility range from $40 to $58.
The research firm’s adjustment follows Portland General Electric’s third-quarter ongoing earnings per share of $1.00, which slightly exceeded the consensus estimate of $0.99. The utility company has maintained its 5%-7% ongoing EPS compound annual growth rate and reaffirmed its 2025 ongoing EPS guidance range of $3.13-$3.33. POR’s diluted EPS for the last twelve months stands at $2.78, with analysts forecasting $3.23 for fiscal year 2025.
Portland General Electric recently refreshed its 2023 Request for Proposal prices to reflect Oregon’s clean energy legislation and trade tariff impacts. This resulted in a shortlist filed with the commission earlier this month, with over $2 billion in tax credit value secured.
The company’s Seaside Automated Metering Reading (ARM) was finalized in August and entered rates on Friday. Mizuho views this development as a clear positive for the utility.
Mizuho noted that investors remain focused on wildfire risk, with Oregon’s legislature not reconvening fully until 2027, which delays a potential rerating of the stock. The firm’s updated price target is based on current market multiples.
In other recent news, Portland General Electric Co. reported its third-quarter earnings for 2025, delivering an earnings per share (EPS) of $1.00, which surpassed analyst expectations of $0.98. However, the company faced a revenue shortfall, bringing in $952 million compared to the projected $975.7 million. These mixed financial results highlight the company’s ability to exceed profit expectations while facing challenges in meeting revenue forecasts. The earnings report has caught the attention of investors and analysts alike, with the focus on how the company will address the revenue gap in future quarters. The results reflect ongoing market dynamics and operational factors affecting the company’s financial performance. Analyst firms continue to monitor Portland General Electric’s financial strategies and market conditions closely. These recent developments underscore the importance of keeping an eye on both earnings and revenue figures for a comprehensive understanding of the company’s financial health.
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