Soleil Securities Initiates Coverage on Edison Int'l (EIX) with a Buy; Big Potential From Utility Growth & Commodity
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Soleil Securities initiates coverage on Edison Int'l (NYSE: EIX) with a Buy. Price target $40.
Soleil analyst says, "While in our opinion the regulated utility can grow 10% or more with the 3-year deal approved by the California regulators, the upside kicker is the survival and expansion of the unregulated business where the debt-laden coal plants could be worth as much as $10/sh, net of debt. At the current stock price, we view the utility as significantly undervalued and investors are getting the unregulated power plants for free."
To see more analyst ratings on EIX Click Here.
Edison International is engaged in the business of becoming the parent holding company of Southern California Edison Company (SCE), a California public utility corporation, and of nonutility companies.
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