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UPDATE: Morgan Stanley Upgrades Edison International to Overweight on Rate Case Outlook

Related EIX
Edison International Tops Q2 Earnings on Solid Utility Sales
Earnings Scheduled For July 31, 2014

Morgan Stanley raised its rating on Edison International (NYSE: EIX) from Equal-weight to Overweight with a reiterated $52.50 price target.

Morgan Stanley noted, "Following our recent meetings in California, we expect a supportive rate case outcome this November. We expect the company to earn its allowed ROE and grow rate base by ~10% per year, driving EPS growth of nearly the same amount. We also believe the outcome of the ROE proceeding will be balanced and expect premium ROEs to continue. We project ROE of 10.5% and an equity ratio of 48%, with a decision by year-end."

Edison International closed at $46.60 on Wednesday.

Posted-In: Morgan StanleyAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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