Analyst Ryan Levine of Citi maintained a Buy rating on Edison International (EIX – Research Report), with a price target of $86.00.
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Ryan Levine’s rating is based on a combination of factors that suggest a positive outlook for Edison International despite some challenges. The company is actively working on its Wildfire Mitigation Plan (WMP) and is optimistic about the early stages of engagement with AB1054, which aims to address legislative needs for wildfire management. This proactive approach indicates a commitment to mitigating risks associated with wildfires, which is a significant concern for investors.
Furthermore, Edison International is preparing for a 2025 General Rate Case (GRC) decision, which is expected to provide clarity on its financial plans and growth outlook. The company plans to update its financing strategy and earnings guidance following this decision, which could align with its Q2 earnings report. Additionally, the expected share price return of 46.4% suggests a strong potential for growth, making it an attractive investment opportunity. These factors collectively contribute to Levine’s Buy rating for Edison International.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EIX in relation to earlier this year.