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UPDATE: Deutsche Bank Lowers PT on Edison International Following Model Update

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Guggenheim Securities Upgrades Edison International To Buy
Edison International Beats on Q2 Earnings, Lags Revenues - Analyst Blog (Zacks)

In a report published Wednesday, Deutsche Bank analyst Jonathan Arnold reiterated a Buy rating on Edison International (NYSE: EIX), but lowered the price target from $55.00 to $52.00.

In the report, Deutsche Bank noted, “After updating our model to exclude SONGS from rate base, we continue to view EIX as an attractive value opportunity in the regulated utilities space. We believe the announced shutdown removes some of the overhang associated with SONGS, as the tumultuous NRC review of the SONGS Unit 2 restart plan is stopped and the focus can shift toward the CPUC investigations. While there remains uncertainty in the ultimate cost recovery for SONGS-related costs, we expect a reasonable outcome and future recoveries from MHI (the steam generator vendor) and NEIL (nuclear insurance). Reiterate Buy.”

Edison International closed on Tuesday at $47.71.

Latest Ratings for EIX

DateFirmActionFromTo
Jun 2015Guggenheim SecuritiesUpgradesNeutralBuy
Jun 2015Guggenheim SecuritiesUpgradesNeutralBuy
Jun 2015SunTrust Robinson HumphreyMaintainsBuy

View More Analyst Ratings for EIX
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Posted-In: Deutsche Bank Jonathan ArnoldAnalyst Color Price Target Analyst Ratings

 

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