Jefferies Upgrades Con Edison; "Buy" Rating (ED)

Jefferies Upgrades Con Edison; “Buy” Rating (ED)


Jefferies reported that they have upgraded utility company, Consolidated Edison, Inc.(ED) to a “Buy” on Wednesday.

The firm has increased their rating on ED from a “Hold” to a “Buy,” and has given the company a $62 price target. This price target suggests a 10% increase from the stock’s current price of $55.57.

Analysts see the stock returning to its previous P/E premium of 5% to 15% after the company’s rate filing later this year. Although the company is trading at the industry average, ED pays above the average yield, protecting investors from a slip in the stock price.

Consolidated Edison shares were mostly flat during premarket trading Wednesday. The stock has declined -6.5% in the past year.

The Bottom Line
Shares of Con Edison (ED) have a 4.37% dividend yield, based on last night’s closing stock price of $55.34. The stock has technical support in the $52-$54 price area. If the shares can firm up, we see overhead resistance around the $58 price level.

Consolidated Edison, Inc.(ED) is not recommended at this time, holding a DARS™ Rating of 3.3 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.

Free Updates

Join over 100,000 investors who get the latest news from

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today