Jefferies Remains Sidelined as Timing Impacts Edison International's (NYSE: EIX) EPS

Jefferies reiterated a Hold rating on Edison International (NYSE: EIX), and raised the price target to $72.00 (from $66.00), following the company's 1Q earnings report. EIX reported an EPS of $0.82, slightly below the consensus estimate of $0.88. The quarter was impacted by the timing of the 2015 GRC which negatively impacted the quarter by $0.06.

Analyst Anthony Crowdell commented, "EIX reported 1Q16 EPS that missed Consensus due to timing of the 2015 GRC and higher expenses. Management highlighted the robust capex program at the utility, currently at $4B/year, and expects that it will increase in the next several years. The company will file its 2018 GRC with regulators in September and provide 2016-20 capex plans. We continue to believe EIX is fair value given it trades at a slight premium to the T&D group."

For an analyst ratings summary and ratings history on Edison International click here. For more ratings news on Edison International click here.

Shares of Edison International closed at $71.44 yesterday.

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