Downgrade Alert for Portland General Electric (POR)
Portland General Electric (NYSE:POR) was downgraded from Neutral to Sell at Goldman Sachs today. The stock closed yesterday at $41.51 on volume of 809,000 shares, above average daily volume of 588,000.
Portland General Electric (NYSE:POR) defies analysts with a current price ($41.51) 8.5% above its average consensus price target of $38.00. The stock should find initial support at its 50-day moving average (MA) of $39.12 and further support at its 200-day MA of $37.28.
Portland General Electric share prices have moved between a 52-week high of $42.40 and a 52-week low of $33.04 and closed yesterday at 26% above that low price at $41.51 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.
Portland General Electric Company is an electric utility involved in the generation, purchase, transmission, distribution, and sale of electricity in Oregon. The Company also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers.
SmarTrend recommended that subscribers consider buying shares of Portland General Electric on March 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.45. Since that recommendation, shares of Portland General Electric have risen 6.9%. We continue to monitor POR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades portland general electric