Citigroup Upgrades Consolidated Edison to "Buy" (ED)

Citigroup Upgrades Consolidated Edison to “Buy” (ED)

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Citigroup analysts upgraded utility company Consolidated Edison, Inc. (ED) on Friday, as an increased demand for storm hardening spending should drive sales growth.

The analysts upgraded ED from “Neutral” to “Buy” and see shares reaching $65. This price target suggests a 13% upside to Thursday’s closing price of $57.56.

Con Edison shares were up 48 cents, or +0.83%, during morning trading on Friday. The stock is up +4.27% year-to-date.

The Bottom Line
Shares of Consolidated Edison (ED) have a dividend yield of 4.26% based on Friday’s intraday trading price of $57.72 and the company’s annualized dividend payout of $2.46 per share.

Consolidated Edison, Inc. (ED) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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