Goldman Sachs Maintains Sell Rating on Consolidated Edison

A report from Goldman Sachs reiterates its Sell rating on Consolidated Edison (NYSE: ED).

The report states, “We reiterate our Sell rating on ED given regulatory risk in 2012 given upcoming rate cases next year in New York for ED's main segment – and potential reductions in authorized RoEs – as well as on valuation. We maintain estimates and our price target."

ED closed yesterday at $58.75.