Portland General Electric price target lowered to $41 from $42 at BofA

BofA lowered the firm’s price target on Portland General Electric (POR) to $41 from $42 and keeps an Underperform rating on the shares after a “slight miss” on Q1 EPS and reaffirmation of FY25 guidance. While the firm notes it maintains its FY25, FY26 and FY27 EPS estimates of $3.19, $3.30 and $3.47, respectively, it believes Portland General faces headwinds from “a relatively less constructive regulatory environment” and elevated wildfire risk.