UBS analyst William Appicelli maintained a Hold rating on Consolidated Edison yesterday and set a price target of $112.00.
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William Appicelli has given his Hold rating due to a combination of factors influencing Consolidated Edison’s financial outlook. The recent decision to sell its 6.6% stake in Mountain Valley Pipeline, LLC for $357.5 million is expected to enhance the company’s balance sheet and business mix by exiting non-core operations. However, the timing of the proceeds’ utilization may result in a slight earnings per share dilution by 2026, with no anticipated change to the 2027 EPS estimate of $6.28.
Additionally, Consolidated Edison is trading at a 10% discount, which appears to reflect investor concerns about potential policy changes following recent elections. Despite these uncertainties, the company’s focus remains on securing approval for a rate case stipulation with the New York Public Service Commission, which includes modest increases in electric and gas rates over a three-year period. These factors contribute to a neutral stance, justifying the Hold rating.
According to TipRanks, Appicelli is a 4-star analyst with an average return of 14.0% and a 71.15% success rate. Appicelli covers the Utilities sector, focusing on stocks such as Xcel Energy, Centerpoint Energy, and Alliant Energy.
In another report released on November 13, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $108.00 price target.