Morgan Stanley Maintains Underweight Rating for Consolidated Edison: Here's What You Need To Know

Morgan Stanley has decided to maintain its Underweight rating of Consolidated Edison ED and raise its price target from $76.00 to $77.00.

Shares of Consolidated Edison are trading up 0.04% over the last 24 hours, at $90.68 per share.

A move to $77.00 would account for a 15.09% decrease from the current share price.

About Consolidated Edison

Con Ed is a holding company for Consolidated Edison of New York, or CECONY, and Orange & Rockland, or O&R. These utilities provide steam, natural gas, and electricity to customers in southeastern New York—including New York City—and small parts of New Jersey. The two utilities generate roughly 90% of Con Ed's earnings. The other 10% of earnings comes from investments in renewable energy projects and gas and electric transmission. These investments have resulted in Con Ed becoming the second-largest owner of utility-scale PV solar capacity in the U.S.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.