JPMorgan analyst Richard Sunderland downgraded Portland General Electric (POR) to Neutral from Overweight with a price target of $44, down from $50. Although President Trump announced a 90-day pause on higher reciprocal tariffs, raising tariffs on China to 125% still leaves the average effective tariff rate above 25%, the analyst tells investors in a research note. Given this backdrop, the firm views recession and tariff risks as “incrementally negative risks” to Portland General given the company’s “high profile” Oregon rate pressure and wildfire fund execution risk.
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