Per the Official Site:
Portis underwent the surgery last December. His rehab was expected to be about six months.
He has targeted training camp for his return, but he hasn't ruled out being ready for mini-camp in June.
I will admit that I am not all that concerned about Portis returning because (as mentioned) we have Betts and also I don't think time off the field will significantly impact CP's production in the future. This was an upper body injury and thus lacks the attendent mental roadblocks associated with, say, a knee injury. Given the kind of intensity Portis has always brought, especially to the less heralded RB tasks of blocking and tackling (as an example), there is little reason to doubt that he returns firing on all cylinders. I do not anticipate that opposing blitzers will be leveled with any less frequency and enthusiasm than they were prior to his injury.
Also looking forward to seeing Portis operate in our zone blocking scheme, which Ladell Betts used to great effect late last season.