Consolidated Edison (ED) PT Raised to $113 at Jefferies

Jefferies analyst Julien Dumoulin-Smith raised the price target on Consolidated Edison (NYSE: ED) to $113.00 (from $108.00) while maintaining a Hold rating.

The analyst comments "We believe ROE mark-to-market in the pending CECONY rate case vs. current 9.25% will allow ED to achieve the midpoint of 6-7% EPS growth guidance through 2029, while Consensus remains below at 5.5%. We are more positive, especially in this defensive tape, but the large rate case ask gives us pause on being more constructive. Our 6.2% EPS CAGR through 2029 reflects lower capex assumptions, in-line with historical decisions."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• DA Davidson Reiterates Buy Rating on Dynatrace Inc. (DT) on Agreement to Acquire Arize
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat