UPDATE: Wunderlich Securities Raises PT on Edison International on 4Q Core Operating EPS Beat
In a report published Wednesday, Wunderlich Securities reiterated Edison International (NYSE: EIX) Buy rating and raised price target from $49 to $51.
Wunderlich securities reported that, “Edison International (EIX) reported 4Q core operating EPS of $1.79 versus $0.77 a year ago (our/consensus was $1.00/$1.04). Adjusting for non-recurring items and reflecting the retroactive rate case impact, 4Q EPS were closer to $1.47. For the full year 2012, core EPS of $3.58 benefited from the retroactive application of the 2012 rate case (GRC) and $0.21 of cost reductions.”
Edison International shares closed at $46.12 on Tuesday.
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