Morgan Stanley raised the firm’s price target on Edison International (EIX) to $61 from $55 and keeps an Underweight rating on the shares following the passage of Senate Bill 254, which addresses key short-term concerns through the wildfire fund replenishment and no upfront equity needs and “brought important enhancements” to California the utility risk profile. However, the firm stays Underweight, citing a relative preference for PG&E (PCG) and lingering tail risks from the Eaton Fire.
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Read More on EIX:
- Edison International’s Senate Bill 254 Approval Impact
- CA legislative session positive for PG&E, Edison International, says Jefferies
- Edison International price target lowered to $66 from $68 at UBS
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- Edison International jumps 1% to $55.36 after Bloomberg report on fire fund