Barclays downgraded Portland General Electric to Equal Weight from Overweight with a price target of $49, up from $48. The firm see more limited consensus earnings revision potential and less upside to the shares after factoring in the company’s $1.5B of additional capex. Portland General now trades at a 6.5% price-to-earnings discount to the small-cap peer group based on 2026 estimates, which is warranted with shares skewing more fair value, the analyst tells investors in a research note.
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