Bull of the Day: Edison International
by Zacks Equity ResearchJanuary 09, 2013 | Comments : 0 Recommended this article: (0)
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Owing to California's supportive regulatory environment, our bullishness on the company remains unfazed. Going forward, our bullish outlook for the company is supported by consistent performance throughout its solid base of stable regulated utility operations, a steady growth in its rate base and ongoing alternative energy projects in-line with the renewable energy mandate.
Also, the steadily rising dividend of Edison International adds extra shine to the stock. Thus we upgrade our rating on the stock from Neutral to Outperform with a price target of $56.00 based on a P/E of 17.4x our fiscal 2013 EPS estimate.