Investing com– Ladenburg Thalmann up to date Edison International (NYSE: EIX) to “neutral” from “sell” supplied its evaluation help complying with a present sell-off.
The provide, buying and selling at a 34% worth reduce to P/E worth quotes, is considered as exhibiting worst-case finish outcomes related to California wildfire risks.
Ladenburg Thalmann saved in thoughts unpredictability bordering the fires’ affect, consisting of the California Wildfire Insurance Fund’s solvency and Edison’s future earnings. An preliminary evaluation of Southern California Edison’s operate within the Eaton (NYSE: ETN) and Hurst fires just isn’t anticipated up till mid-2025.
“At this time, it is too early to discern what the outcomes will be with respect to the impact of the fires on the California Wildfire Insurance Fund solvency and/or the future earnings of Edison International,” Ladenburg Thalmann skilled created.
EIX has truly submitted Electrical Incident Reports, and fits declare a potential internet hyperlink in between Edison instruments and the fires. Ladenburg modified its 2024-2027 EPS approximates to make up share price-driven dilution and established a modified price goal of $56.50, based mostly upon a sum-of-the-parts evaluation approach.
Related Articles
Ladenburg Thalmann lifts Edison stock rating to ‘neutral’ on valuation
Retail sales, jobless claims, and Philly Fed index highlight Thursday’s data
United Health, Bank of America, Morgan Stanley to report Thursday
