UPDATE: Goldman Sachs Lowers PT on Portland General Electric

Goldman Sachs is out with its report today on Portland General Electric POR, lowering its PT to $24 from $25. In its report, Goldman Sachs writes, "After 2Q2011 reporting, where POR reported EPS of $0.29 versus GS/ consensus of $0.31/$0.36, we update estimates, lower our price target and reiterate our Neutral rating. We update 2011-2014 EPS to $2.13/$1.98/ $1.94/$2.12 projections from $2.24/$1.96/$2.01/$2.07, to reflect: (1) 2Q2011 actuals; (2) slightly lower revenues in 2H2011; (3) higher interest expenses in 2013; and (4) lower D&A. We lower our price target to $24 from $25." Shares of POR closed Friday at $23.22, down 1.48% from Thursday's close.