Consolidated Edison price target raised to $101 from $100 at Scotiabank

Scotiabank analyst Andrew Weisel raised the firm’s price target on Consolidated Edison (ED) to $101 from $100 and keeps a Sector Perform rating on the shares. Consolided Edison has shed the two primary bear cases that have weighed on shares over the past several years: a challenging regulatory/political environment and below-average growth, the analyst tells investors in a research note. While the regulatory environment can’t be considered to be all clear until the high-profile Consolidated Edison Company of New York rate case is completed later this year, the firm is highly encouraged by the Orange and Rockland Utilities rate case in 2024, which was settled on meaningfully better-than-expected terms.