Edison International price target lowered to $75 from $94 at Wells Fargo

Wells Fargo lowered the firm’s price target on Edison International (EIX) to $75 from $94 and keeps an Overweight rating on the shares. The firm cites higher assumed wildfire liabilities. With that said, Wells thinks shares reflect too much pessimism. However, Edison could continue to languish until there is clear policy support for the state’s electric utilities.