- Portland General Electric (POR -12.6%) plunges to a YTD low following reports its equipment may have been involved in starting fires currently occurring in Oregon.
- Guggenheim analysts are out in defense of the company, saying Portland management says it has no indication that its equipment was involved in starting any of the fires.
- The firm says today's share price drop is overdone, noting there are no inverse condemnation laws in Oregon - unlike California - and that the fires near Portland General assets primarily have been in national forests.
- PG&E yesterday began restoring power to some of the 500K California homes and businesses it blacked out earlier as fires whipped by wind gusts scarred the state.
Guggenheim analysts say Portland price drop overdone
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About POR Stock
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Symbol | Last Price | % Chg |
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POR | - | - |
Portland General Electric Company |