UBS lowered the firm’s price target on Edison International (EIX) to $66 from $68 and keeps a Buy rating on the shares. The firm says that the reports of work continuing on investment securitization legislation, which could also include a wildfire amendment consistent with concepts of Governor Newsom’s proposal “California Lawmakers Reach Initial Agreement on Wildfire Fund” would be positive for the stock, though UBS is revising its price target lower to reflect the recent change in the Utility group average multiple, the analyst tells investors in a research note.
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