Consolidated Edison (NYSE:ED) had its price objective decreased by investment analysts at Morgan Stanley from $80.00 to $74.00 in a research note issued to investors on Tuesday. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 4.39% from the company’s current price.
A number of other research firms have also commented on ED. Guggenheim reiterated a “hold” rating and issued a $88.00 price target on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Wednesday, January 3rd. ValuEngine upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. initiated coverage on Consolidated Edison in a research report on Friday, January 12th. They issued an “underweight” rating and a $78.00 price target on the stock. Finally, Bank of America initiated coverage on Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price target on the stock. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $81.32.
Shares of Consolidated Edison (NYSE:ED) opened at $77.40 on Tuesday. Consolidated Edison has a 52-week low of $72.63 and a 52-week high of $89.70. The company has a market capitalization of $23,841.19, a PE ratio of 19.35, a price-to-earnings-growth ratio of 9.00 and a beta of 0.03. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70.
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About Consolidated Edison
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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