Ahead Of The Bell: Portland General Elec. Upgraded

NEW YORK (AP) — Shares of Portland General Electric Co. are attractively priced and have potential to rise given the expectations for long-term company growth, said an analyst as he upgraded the stock of Oregon's largest utility.

"We believe the market has somewhat overlooked the low risk, visible and higher earnings per share growth nature of the Portland General Electric story, especially when compared to other smaller and midsize regulated utilities," said Deutsche Bank analyst Ameet Thakkar, who expects long-term earnings per share growth of 6 to 8 percent.

Thakkar noted that unlike its peers, Portland likely won't need to issue equity in 2010, even without stimulus grants. The company's growth outlook also outshines its peers given its robust capital spending program and strong industrial demand, he said. ...