Ladenburg analyst Paul Fremont downgraded Edison International (EIX) to Sell from Neutral with a price target of $63, up from $59.50. The firm cites the “anticipated true up” of Southern California Edison’s earned returns versus authorized returns as part of the company’s upcoming 2029 general rate case filing for the downgrade. California Assembly Bill 2666, adopted in 2024, requires the California Public Utilities Commission to adjust the authorized revenue requirement in subsequent rate cases based on actual past costs, the analyst tells investors in a research note. Ladenburg’s current forecasts assume consistent over-earnings by Southern California Edison.
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