Barclays Reiterates an 'Overweight' on Edison International (EIX); Raising Estimates After Good Qtr
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Price: $71.59 -4.11%
Rating Summary:
14 Buy, 13 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 13 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays reiterates an 'Overweight' on Edison International (NYSE: EIX) price target raised $3 to $46.00.
Barclays analyst says, "We are raising our EPS forecast for 2011 in line with EIX guidance to $3.05 from $2.94. We maintain our 2012 EPS estimate of $3.26 and our 2013 of $3.23. We assume a 10.5% ROE in the cost of capital case to be decided in Q4'12. We assume about $1.0B in rate relief in the current general rate case to be decided in early 2012 versus the company's $1.5B proposal for 2012-2014. The next catalyst is the Administrative Law Judge's decision in the rate case in Q4'11."
"We maintain the 7% big-cap premium 2013 utility P/E multiple which is now 14.3x versus 13.1x previously. We apply this to our $3.23 EPS forecast."
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 $40.02 yesterday.
Barclays analyst says, "We are raising our EPS forecast for 2011 in line with EIX guidance to $3.05 from $2.94. We maintain our 2012 EPS estimate of $3.26 and our 2013 of $3.23. We assume a 10.5% ROE in the cost of capital case to be decided in Q4'12. We assume about $1.0B in rate relief in the current general rate case to be decided in early 2012 versus the company's $1.5B proposal for 2012-2014. The next catalyst is the Administrative Law Judge's decision in the rate case in Q4'11."
"We maintain the 7% big-cap premium 2013 utility P/E multiple which is now 14.3x versus 13.1x previously. We apply this to our $3.23 EPS forecast."
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 $40.02 yesterday.
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