Consolidated Edison price target raised to $120 from $116 at Citi

Citi raised the firm’s price target on Consolidated Edison (ED) to $120 from $116 and keeps a Buy rating on the shares. As the utility space has largely been defensive over the last week, Citi sees “the dislocation creating select opportunities,” the analyst tells investors in a research note. The firm says that in the “defensive” regulated utilities space, Consolidated Edison is “uniquely positioned because of a nuance in its earnings outlook.”