According to a research report published this morning, Bank of America has increased Consolidated Edison's ED PO from $56 to $58.
In the report, Bank of America commented, "On 5/3, Consolidated Edison (ED) reported 1Q11 earnings of $1.01, below our $1.08 estimate, mostly due to a $0.07 weather hit at its steam business. ED also affirmed 2012 guidance of $3.65-3.85. We are lowering our 2012E from $3.80 to $3.73 due to weather. We are maintaining our 2013-14E of $3.87/3.97 despite expected lower rate relief, as we now assume no equity issuances through 2014."
Bank of America maintains its Underperform rating on Consolidated Edison, which is currently trading at $59.64.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in