Mizuho analyst Anthony Crowdell lowered the firm’s price target on Portland General Electric to $44 from $48 and keeps a Neutral rating on the shares. Two recent wildfire-related events have “brought wildfire risk to the forefront,” especially among the SMID-cap utilities, the analyst tells investors in a research note. The firm believes utility wildfire risk will need to be evaluated on a state-by-state basis given legal nuances in each state. It reduced price targets to account for current market multiples.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on POR:
- Portland General Electric initiated with an Equal Weight at Barclays
- Portland General Electric initiated with a Neutral at UBS
- Portland General Electric upgraded to Buy from Neutral at Guggenheim
- Eguana Technologies joins Portland General Electric’s VPP program
- Portland General Electric backs FY23 adjusted EPS view $2.60-$2.75