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

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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
Jan 2021Morgan StanleyMaintainsEqual-Weight
Jan 2021KeyBancMaintainsOverweight
Jan 2021Wells FargoUpgradesEqual-WeightOverweight

View More Analyst Ratings for EIX
View the Latest Analyst Ratings

 

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Posted-In: Deutsche Bank Jonathan ArnoldAnalyst Color Price Target Analyst Ratings

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