UPDATE: Jefferies & Company Reiterates Hold Rating, Lowers PT on Edison International

In a report published Wednesday, Jefferies & Company reiterated its Hold rating on Edison International

, but lowered its price target from $51.00 to $48.50. Jefferies & Company noted, “We are reducing our 4Q and full year 2012 EPS estimate by $0.15 to $1.05 and $3.15, respectively. We are increasing our 2013 estimate by $0.10 to $3.45 to reflect anticipated recovery from Mitsubishi of San Onofre costs included the plants $138 million warranty. We are reducing our 2014-15 estimates by $0.05 to $3.55 and $3.75, respectively, based on fine tuning of our forecast model.” Edison International closed on Tuesday at $46.40.