In a report released today, Eric Beaumont from Barclays reiterated a Hold rating on Edison International (EIX), with a price target of $65. The company’s shares opened today at $60.87.
Beaumont wrote:
“We examine what we consider to be the valuation playing field for bulls, bears and what lies between: We look to down side valuation assuming future wildfire liabilities, stopping well short of bankruptcy. We look to upside valuation based on comprehensive wildfire reform providing certainty of cost recovery. We look to different valuation multiples for these scenarios and the status quo and attempt to ascertain the probability of each scenario. The punch line is that the valuation playing field runs from $50 to $83 with $65 representing our most likely outcome but clearly showing upside skew for those willing to venture further out on the risk curve. We reiterate our Equal Weight rating and raise our Price Target to $65.”
According to TipRanks.com, Beaumont is a 1-star analyst with an average return of -1.1% and a 55.6% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, American Electric Power, and Alliant Energy Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Edison International with a $63.50 average price target, representing a 4.3% upside. In a report issued on February 11, Wells Fargo also downgraded the stock to Hold with a $65 price target.
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Edison International’s market cap is currently $19.72B and has a P/E ratio of 42.92. The company has a Price to Book ratio of 1.63.
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Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies.The company was founded on April 20, 1987 and is headquartered in Rosemead, CA.
