Goldman Sachs Upgrades Edison International (EIX) to Buy; Dividend Growth and Attractive Valuation

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Goldman Sachs upgraded Edison International (NYSE: EIX) from Neutral to Buy with a price target of $53.00 (from $51.00).

The firm cited: "(1) attractive valuation, (2) above average regulated earnings growth, which is more visible after EIX's distressed, but legally separated, merchant generation business filed for bankruptcy in late 2012, and (3) above average multi-year dividend growth due to a below average payout ratio and as capital spending begins to slow in 2014/2015." Goldman sees 18% total upside.

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 $45.78 yesterday, with a 52 week range of $39.60-$47.96.

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