Jefferies Group Upgrades Edison International to Buy (EIX)
Edison International (NYSE:EIX) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $64.50 target price on the stock, up from their previous target price of $61.00. Jefferies Group’s target price would indicate a potential upside of 12.26% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other analysts have also recently commented on the stock. Analysts at Argus downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. They noted that the move was a valuation call. Separately, analysts at Goldman Sachs raised their price target on shares of Edison International from $53.00 to $57.00 in a research note on Tuesday, April 1st. They now have a “buy” rating on the stock. Finally, analysts at UBS AG upgraded shares of Edison International from a “neutral” rating to a “buy” rating in a research note on Monday, March 31st. They now have a $60.00 price target on the stock, up previously from $57.00. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $56.04.
Shares of Edison International (NYSE:EIX) traded down 0.47% on Thursday, hitting $56.62. The stock had a trading volume of 1,438,205 shares. Edison International has a one year low of $44.26 and a one year high of $57.09. The stock’s 50-day moving average is $53.89 and its 200-day moving average is $49.1. The company has a market cap of $18.447 billion and a P/E ratio of 20.43.
Edison International (NYSE:EIX) last released its earnings data on Tuesday, February 25th. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.67 by $0.14. The company had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.59 billion. On average, analysts predict that Edison International will post $3.70 earnings per share for the current fiscal year.
Edison International, is a holding company of Southern California Edison Company (NYSE:EIX).
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