Wolfe Research downgraded Edison International (EIX) to Peer Perform from Outperform without a price target The firm thinks the mix of Eaton Fire litigation risk, lack of clarity on a new assembly bill 1054 and still pending general rate case leave enough uncertainty to move to sidelines on the shares. The 2025 Southern California fires, particularly Eaton in Edison’s utility, SCEs territory, has raised concerns from the market about the durability of California’s regulatory framework that caps wildfire liability costs and provides a Wildfire Fund to pay claims, the analyst tells investors in a research note. Wolfe also worries Edison may need to pick up more percent of shareholder contributions in the new law post Eaton.
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