Analyst Ross Fowler from Bank of America Securities maintained a Buy rating on Consolidated Edison (ED – Research Report) and increased the price target to $122.00 from $113.00.
Ross Fowler has given his Buy rating due to a combination of factors that highlight Consolidated Edison’s strong financial performance and growth prospects. The company reported a Q1 2025 adjusted operating EPS of $2.26, surpassing both the previous year’s performance and the consensus estimates. This indicates a robust financial health and effective management strategies that are likely to continue driving the company’s success.
Additionally, Consolidated Edison maintains its 2025 EPS guidance and plans significant capital expenditures through 2029, alongside an 8.2% rate base growth. These factors, coupled with the ongoing developments in their rate cases and projects like Empire Wind, suggest a promising future for the company. The current stock price of $112.56, with a price objective of $122.00, further supports the Buy rating as it indicates potential upside for investors.
According to TipRanks, Fowler is a 4-star analyst with an average return of 2.7% and a 60.59% success rate. Fowler covers the Utilities sector, focusing on stocks such as Northwestern, Sempra Energy, and SJW.