Jefferies Upgrades Consolidated Edison (ED) to Buy

September 14, 2016 6:39 AM EDT
Get Alerts ED Hot Sheet
Price: $73.49 --0%

Rating Summary:
    1 Buy, 10 Hold, 7 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 24 | New: 14
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Jefferies upgraded Consolidated Edison (NYSE: ED) from Hold to Buy with a price target of $82.00 (from $80.00).

Analyst Anthony Crowdell commented, "We are upgrading Con Edison to Buy from Hold based on valuation. The stock is trading at a group average multiple and has historically traded at a 5%-15% premium to other regulated utilities. We believe the company will announce the details of a previously announced rate settlement based on a 9.0% ROE and view the April 2016 Stagecoach pipeline JV as a placeholder for future growth."

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

Shares of Consolidated Edison closed at $73.23 yesterday.

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