After Morgan Stanley and Guggenheim gave Consolidated Edison (NYSE: ED) a Sell rating last month, the company received another Sell, this time from Barclays. Analyst Eric Beaumont maintained a Sell rating on Consolidated Edison yesterday and set a price target of $83.00. The company’s shares closed last Monday at $83.79.
According to TipRanks.com, Beaumont is a 3-star analyst with an average return of 1.2% and a 47.3% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Public Service Enterprise, and American Electric Power.
Consolidated Edison has an analyst consensus of Hold, with a price target consensus of $89.00, implying a 10.4% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Sell rating on the stock with a $89.00 price target.
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Consolidated Edison’s market cap is currently $27.97B and has a P/E ratio of 20.55. The company has a Price to Book ratio of 1.55.
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Consolidated Edison Co. of New York, Inc. engages in the distribution of electric power services. It operates through the following segments: Electric, Gas, and Steam. The company was founded in 1884 and is headquartered in New York, NY.
