Edison shares upgraded to neutral as worst-case wildfire impact is priced in

cnbc.com

Edison International shares have been upgraded to neutral from sell by Ladenburg Thalmann. The investment bank believes the stock now reflects the worst-case scenario regarding the impact of ongoing wildfires in Los Angeles. Despite the upgrade, the price target was lowered by $4.50 to $56.50, indicating a potential decline from recent prices. Edison shares have dropped over 22% this year, making it the worst performer in the S&P 500. Edison’s CEO stated that there were no electrical issues before one of the fires. The stock saw a nearly 6% increase on Wednesday, following a 2% rise on Tuesday, ending a six-day losing streak.


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Edison shares upgraded to neutral as worst-case wildfire impact is priced in | News Minimalist