UPDATE: Jefferies Lowers PT on Edison International Following ASLB Decision

In a report published Wednesday, Jefferies analyst Paul B. Fremont reiterated an Underperform rating on Edison International

, but slightly lowered the price target from $43.50 to $43.00. In the report, Fremont noted, “The ASLB determined that the confirmatory action letter process was a de facto license amendment providing an opportunity for a public hearing prior to the restart of the plant. The ASLB decision goes far beyond the scope of the narrow license amendment under consideration by the NRC staff and raises serious safety concerns regarding the current restart plan.” Edison International closed on Tuesday at $49.39.