Consolidated Edison (ED) Given New $74.00 Price Target at Morgan Stanley
Consolidated Edison (NYSE:ED) had its target price decreased by analysts at Morgan Stanley from $80.00 to $74.00 in a report issued on Tuesday, MarketBeat.com reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 2.49% from the stock’s previous close.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. KeyCorp restated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Bank of America started coverage on Consolidated Edison in a research report on Tuesday, October 24th. They set a “buy” rating and a $92.00 target price on the stock. Guggenheim restated a “hold” rating and set a $88.00 target price on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Consolidated Edison in a research note on Friday, January 12th. They set an “underweight” rating and a $78.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Consolidated Edison has a consensus rating of “Hold” and an average target price of $81.32.
Shares of Consolidated Edison (NYSE:ED) opened at $75.89 on Tuesday. Consolidated Edison has a 52-week low of $72.63 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.70 and a current ratio of 0.79. The company has a market capitalization of $23,884.60, a PE ratio of 19.21, a P/E/G ratio of 9.02 and a beta of 0.03.
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Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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