Sidoti Keeps a Hold Rating on Portland GE (POR)


Sidoti analyst Sidoti maintained a Hold rating on Portland GE (POR) yesterday and set a price target of $40.00. The company’s shares closed last Tuesday at $38.45, close to its 52-week low of $36.00.

Currently, the analyst consensus on Portland GE is a Hold with an average price target of $42.75, implying a 13.2% upside from current levels. In a report released yesterday, Merrill Lynch also downgraded the stock to Hold with a $41.00 price target.

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Based on Portland GE’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $456 million and net profit of $39 million. In comparison, last year the company earned revenue of $443 million and had a net profit of $25 million.

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Portland General Electric Co. is a vertically integrated electric utility company, which engages in the generation, purchase, transmission, distribution, and retail of electricity. The firm sells electricity and natural gas in the wholesale market to utilities, brokers, and power marketers. It also serves residential, commercial, and non-residential customers. The company was founded in 1888 and is headquartered in Portland, OR.

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