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Fly News Breaks for August 2, 2016
POR
Aug 2, 2016 | 06:52 EDT
BofA/Merrill analyst Brian Chin downgraded Portland General Electric to Neutral and lowered its price target to $45 from $48 after the Commission took no action on Portland's RFP because it was not incorporated alongside an integrated resource plan, or IRP. The analyst said Portland will need an updated IRP, which most likely means a RFP start date of 2017. Chin lowered estimates below consensus for 2018 to reflect the drag from depreciation and interest expense on the $135 construction overage.
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