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Downgrade Alert for Portland General Electric (POR)

By David Diaz

Portland General Electric (NYSE:POR) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $43.77 on volume of 749,000 shares, above average daily volume of 588,000.

Based on a current price of $43.77, Portland General Electric is currently 13.2% above its average consensus analyst price target of $38.00. Portland General Electric shares have support at the 50-day moving average (MA) of $39.12 and additional support at the 200-day MA of $37.28.

In the past 52 weeks, shares of Portland General Electric have traded between a low of $33.04 and a high of $45.21 and closed yesterday at $43.77, which is 32% above that low price. Over the last five market days, 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 12.3%. 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

Ticker(s): POR