UBS Downgrades Con Edison to "Sell" on Regulatory Concerns (ED)

UBS Downgrades Con Edison to “Sell” on Regulatory Concerns (ED)


Regional utility company Consolidated Edison, Inc. (ED) saw its rating downgraded by UBS analysts on Tuesday because of a concern of New York politics leading to regulatory interference.

UBS analysts downgraded ED from “Neutral” to “Sell” and see shares reaching $53. This target suggests a -5% downside to Monday’s closing price of $55.74.

Con Edison shares were flat during premarket trading on Tuesday. The stock is down -5.81% over the past year.

The Bottom Line
Shares of Con Edison (ED) have a 4.34% dividend yield, based on last night’s closing stock price of $55.74. 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.

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