Barclays Maintains an 'Overweight' on Edison International (EIX); A Good Q1

Barclays maintains an 'Overweight' on Edison International (NYSE: EIX), PT $43.

Barclays analyst says, "EIX' utility plus parent Q1 EPS was $0.67 versus our $0.65 estimate. On a consolidated basis excluding discontinued operations EPS was $0.62 versus our $0.59 forecast. Merchant operations came under pressure due to dark spread compression...Our $2.94 EPS estimate for 2011 is the middle of guidance for utility ($3.08) plus parent EPS (-$0.14)."

"Our utility and parent EPS estimates are $3.26 for 2012 and $3.23 for 2013. Aside from the GRC testimony ahead, a key SCE milestone is the start of rate case hearings scheduled to begin July 25. We don't look for a settlement at this point, but we at least look for opposing positions to be well developed by then."

For more ratings news on Edison International click here and for the rating history of Edison International click here.

Shares of Edison International closed at $39.25 yesterday.

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