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 would reiterate its midpoint 6% EPS growth rate projection.
Additionally, UBS states that Edison International 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 is a public utility company that specializes at generating power from a variety of sources, including renewable energy, nuclear energy, and natural gas.
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This article is originally published at Insider Monkey.
