Edison International (EIX) Secures Strong Rate Case Win, UBS Bullish

Edison International (NYSE:EIX) ranks among the top picks for a retirement portfolio. UBS maintained its Buy rating and $66 price target for Edison International (NYSE:EIX) on September 19, following the conclusion of the electric company’s rate case. According to UBS, Edison International obtained 91% of its desired rate base and 62% of sought revenue increases.

The firm anticipates that in the upcoming weeks or on the third quarter earnings call, Edison International (NYSE:EIX) would reiterate its midpoint 6% EPS growth rate projection.

Additionally, UBS states that Edison International (NYSE:EIX) is currently trading at 9 times its projected $6.47 2027 EPS. The firm says that the rate case verdict, risk reduction steps under wildfire legislation, and a Woolsey paid claims recovery settlement will all contribute to the EIX stock.

Based in California, Edison International (NYSE:EIX) is a public utility company that specializes at generating power from a variety of sources, including renewable energy, nuclear energy, and natural gas.

While we acknowledge the potential of EIX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EIX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.