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Investing.com - UBS downgraded Portland General Electric Company (NYSE:POR) from Buy to Neutral with a price target of $51.00, citing the stock’s 20% performance over the past six months. The utility currently trades at a P/E ratio of 17.5 with a generous 4.3% dividend yield.
The research firm noted that POR has outperformed the Dow Jones Utility Index by 10% during this period, suggesting the previous investment thesis has now been priced into the stock. InvestingPro data confirms this strong momentum, showing a 17.1% total return over the past six months and a beta of 0.69, indicating lower volatility than the broader market.
UBS acknowledged that Portland General Electric has successfully executed its supply procurement for renewables and/or storage capacity at the reasonable $1 billion cost disclosed during the company’s third-quarter earnings call, despite previous tariff concerns.
The analyst report highlighted that POR has filed for a holding company structure that would reduce pressure to issue equity to support its balance sheet, with Oregon Public Utility Commission approval expected.
UBS sees only 4% upside potential to its $51 price target, noting that the market has largely priced in the holding company structure, while the approval catalyst remains seven months away in June 2026.
In other recent news, Portland General Electric reported its third-quarter earnings for 2025, surpassing analyst expectations with an earnings per share (EPS) of $1.00, compared to the forecasted $0.98. However, the company faced a revenue shortfall, reporting $952 million against a forecast of $975.7 million. Despite the revenue miss, Portland General Electric maintained its 5%-7% ongoing EPS compound annual growth rate and reaffirmed its 2025 ongoing EPS guidance range of $3.13-$3.33. Additionally, Mizuho raised its price target on Portland General Electric from $45 to $47 while maintaining a Neutral rating on the stock. These recent developments highlight the company’s ongoing financial performance and market perceptions.
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