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OTCpicks1

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Wednesday, 09/16/2020 11:18:02 PM

Wednesday, September 16, 2020 11:18:02 PM

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$PORWorst priced in' at Portland General, BofA says in upgrade to Buy


Portland General Electric (NYSE:POR) +2.1% pre-market after Bank of America upgrades shares to Buy from Neutral, although with a reduced price target of $39 vs. $41 previously, saying the worst is priced in after falling 12% in the past week on unconfirmed reports that its electrical equipment may have ignited some of the wildfires in Oregon.

"While three wildfires currently run through POR's distribution service territory, the company continues to stress no evidence that their equipment was an ignition," says BofA's Julien Dumoulin-Smith.

https://seekingalpha.com/news/3614583-worst-priced-in-portland-general-bofa-says-in-upgrade-to-buy
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