UPDATE: Jefferies Raises PT to $52.50 on Edison International; Edison Mission Group Impact Excluded
Jefferies reiterated its Buy rating on Edison International (NYSE: EIX) and raised its price target from $49 to $52.50.
Jefferies commented, "We are adjusting our estimates to exclude the contribution/losses of Edison Mission Group. We have long argued that Edison International should be valued based on the stand alone earnings of Edison's regulated utility, Southern California Edison Company less holding company expenses. We view EMG as having negative value based on non-recourse debt levels in excess of cash flows."
Edison International closed at $46.08 on Wednesday.
Latest Ratings for EIX
|Jan 2017||Evercore ISI Group||Upgrades||Hold||Buy|
|Oct 2016||Argus Research||Maintains||Buy|
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