Market Overview

UPDATE: Jefferies Downgrades Edison International to Hold on Valuation

Share:
Related EIX
Keep an Eye on These 12 Stocks for May 3, 2016
Must Watch Stocks for May 2, 2016
Edison International (EIX) Theodore F. Craver, Jr. on Q1 2016 Results - Earnings Call Transcript (Seeking Alpha)

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
May 2016JefferiesMaintainsHold
Apr 2016Argus ResearchMaintainsBuy
Apr 2016Deutsche BankDowngradesBuyHold

View More Analyst Ratings for EIX
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (EIX)

View Comments and Join the Discussion!