Edison International (EIX)
by Zacks Equity ResearchJuly 12, 2012 | Comments : 0 Recommended this article: (0)
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Going forward, our bullish outlook for the company is supported by consistent performance throughout its solid base of stable regulated utility operations, favorable resolution of the pending GRC & the cost of capital proceeding, incremental dividend, steady growth in rate base and ongoing alternative energy projects in-line with the renewable energy mandate.
Also, in light of the weak macro trend, the steadily rising dividend of Edison International adds extra shine to the stock. Thus we upgrade our rating on the stock with a price target of $55.00, based on a P/E of 22.9x our fiscal 2012 EPS estimate.
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