Market Overview

UPDATE: Jefferies Downgrades Edison International to Hold on Valuation

Related EIX
Stocks Hitting 52-Week Highs
Earnings Scheduled For October 28, 2014

Jefferies lowered its rating on Edison International (NYSE: EIX) from Buy to Hold with a reiterated $51 price target.

Jefferies commented, "We are downgrading Edison International to Hold from Buy based on valuation. Edison (excluding Mission Energy) currently trades at a 7% discount to our 2014 group average regulated utility multiple P/E. Given uncertainty associated with California regulation including the company's general rate case, cost of capital proceeding and San Onofre, we believe Edison should appropriately trade at a utility group average multiple."

Edison International closed at $47.06 on Monday.

Latest Ratings for EIX

DateFirmActionFromTo
Dec 2014Deutsche BankMaintainsBuy
Dec 2014BarclaysMaintainsOverweight
Oct 2014UBSDowngradesBuyNeutral

View More Analyst Ratings for EIX
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (EIX)

Around the Web, We're Loving...

Get Benzinga's Newsletters