Portland General Electric (POR) Downgraded at UBS

Core Insights - Portland General Electric Company (NYSE:POR) has been downgraded by UBS from 'Buy' to 'Neutral', maintaining a price target of $51, citing valuation concerns after a nearly 20% gain over the last six months [3] - The company reported a third-quarter earnings beat, driven by increased demand from data centers, although its revenue of $952 million fell short of estimates by approximately $32 million, reflecting a year-over-year growth of about 2.5% [4] - Portland General Electric has kept its FY 2025 adjusted earnings guidance steady at $3.13 to $3.33 per share and reaffirmed its long-term EPS and dividend growth guidance of 5% to 7% [5] Financial Performance - The company experienced a 13% surge in industrial demand during the last quarter, primarily from data centers and semiconductor manufacturers [4] - Despite the earnings beat, the revenue shortfall indicates potential challenges in meeting market expectations [4] Future Outlook - The Oregon Public Utility Commission approval catalyst is anticipated to occur in June next year, which may impact future valuations and investor sentiment [3] - Long-term growth guidance remains at 3% through 2029, indicating a stable outlook for the company [5]