Barclays upgraded Edison International (EIX) to Overweight from Equal Weight with a price target of $84, down from $91. The firm maintains a positive sector outlook for power and utilities into 2025. It sees Edison trading at a “steep discount to peers despite major de-risking initiatives” such as finalizing the Thomas and Koenigstein fires recovery application, awaiting final steps for the general rate case and focusing on wildfire risk reduction. The analyst believes the company potentially has in-line and in some cases above-average growth attributes in the future, despite trading at nearly a 18% discount to peers.
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Read More on EIX:
- Edison International price target lowered to $87 from $96 at UBS
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