Morgan Stanley analyst Stephen Byrd maintained a Hold rating on Edison International (EIX) today and set a price target of $79. The company’s shares closed yesterday at $58.42.
According to TipRanks.com, Byrd is a 1-star analyst with an average return of -1.4% and a 57.0% success rate. Byrd covers the Utilities sector, focusing on stocks such as American Electric Power, NextEra Energy Inc, and Eversource Energy.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Edison International with a $64.65 average price target, implying a 10.7% upside from current levels. In a report released yesterday, Wells Fargo also downgraded the stock to Hold with a $65 price target.
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Based on Edison International’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.27 billion and net profit of $513 million. In comparison, last year the company earned revenue of $3.22 billion and had a GAAP net loss of $545 million.
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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.
