UBS downgraded Edison International (EIX) from Buy to Neutral despite raising its price target to $78, citing the company’s 21% share price appreciation over the last six months, which has reduced upside potential. Analysts believe the near-term risk/reward is balanced due to factors like the pending Phase 2 wildfire legislation and upcoming California gubernatorial election posing regulatory risks. The broader analyst consensus for EIX is cautious, with a majority assigning Hold or Sell ratings, and a 1-year median price target suggesting a 1% downside.
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Edison International (EIX) Faces Analyst Caution Amid Near-Term Risks
UBS downgraded Edison International (EIX) from Buy to Neutral despite raising its price target to $78, citing the company’s 21% share price appreciation over the last six months, which has reduced upside potential. Analysts believe the near-term risk/reward is balanced due to factors like the pending Phase 2 wildfire legislation and upcoming California gubernatorial election posing regulatory risks. The broader analyst consensus for EIX is cautious, with a majority assigning Hold or Sell ratings, and a 1-year median price target suggesting a 1% downside.