Edison International Rated Buy as EV Adoption Leads in Service Area

Edison International (NYSE:EIX) ranks among the 30 stocks expected to beat the market by 20 percentage points this year. UBS reaffirmed its Buy rating and price target of $70 for Edison International (NYSE:EIX) on June 10, as the bank views recent legislative events in California favorably.

Edison International Rated Buy as EV Adoption Leads in Service Area

According to UBS analyst Gregg Orrill, the California Senate passed a bill on June 4 that would enable utilities to use securitization to recover significant costs in energization and wildfire mitigation projects. The bill, SB 254, has until September 12 to be finalized and is gaining momentum.

Orrill noted that Edison International (NYSE:EIX) holds the highest rate of electric vehicle (EV) adoption in its service area, while market competitor Pacific Gas & Electric Company has the most investment in wildfire prevention among California’s investor-owned utilities.

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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

Disclosure: None.