Jefferies Upgrades Edison International (EIX) to Buy

Jefferies upgraded Edison International (NYSE: EIX) from Hold to Buy with a price target of $64.50 (from $61.00).

Analyst Paul B. Fremont states, "We are upgrading Edison International (EIX) to Buy based on valuation. Recent announced settlements in the SONGS OII and Edison Mission Energy bankruptcy proceedings have eliminated legal and regulatory overhang. Based on above average growth projected for earnings and the company's dividend, EIX merits a premium valuation to the utility group."

The firm raised FY 2014 EPS from $3.75 to $3.80.

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 $56.89 yesterday.

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