Barclays lowered the firm’s price target on Consolidated Edison (ED) to $92 from $99 and keeps an Underweight rating on the shares as part of a Q4 earnings preview for the power and utilities group. The firm remains bullish on the sector, seeing an upward bias to demand growth continuing into the Q4 results, with rate base and earnings growth accelerating towards 9%. Valuations “are not demanding,” the analyst tells investors in a research note.
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Read More on ED:
- Consolidated Edison price target lowered to $92 from $99 at Guggenheim
- Consolidated Edison price target lowered to $100 from $105 at Evercore ISI
- Consolidated Edison raises quarterly dividend to 85c from 83c per share
- Consolidated Edison upgraded to Sector Perform from Underperform at Scotiabank
- Consolidated Edison 7M share Spot Secondary priced at $97.00
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