Ross Fowler, an analyst from Bank of America Securities, maintained the Buy rating on Consolidated Edison. The associated price target remains the same with $112.00.
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Ross Fowler’s rating is based on Consolidated Edison’s strong financial performance and future growth prospects. The company reported a Q2’25 adjusted EPS of $0.67, which surpassed the consensus estimate of $0.65 and marked an improvement from the previous year’s $0.59. This growth was primarily driven by an increase in the electric rate base and higher income from AFUDC, despite being partially offset by higher interest on long-term debt and increased operational costs.
Consolidated Edison has also maintained its 2025 EPS guidance of $5.50 to $5.70 per share and plans for $38 billion in capital expenditures through 2029, with an expected rate base growth of 8.2% over the same period. These factors, combined with the ongoing CECONY rate case and the company’s strategic focus on affordability and consumer bill pressures in New York City, contribute to Fowler’s confidence in the stock’s potential, resulting in a Buy rating with a price objective of $112.00.
ED’s price has also changed slightly for the past six months – from $96.080 to $105.000, which is a 9.28% increase.