Evercore ISI raised the firm’s price target on Edison International (EIX) to $61 from $56 and keeps an Outperform rating on the shares after having hosted a non-deal roadshow in Boston with Edison management. Management’s “best guess” is that the whole Eaton process, starting with the determination of the cause and ending with the prudency proceedings, could take four years and it is confident sufficient protocols were followed for idle line and that it will sustain its “presumption of prudency,” the analyst tells investors.
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