Morgan Stanley Boosts ED Target to $106 on Constructive Sector Trends

Consolidated Edison, Inc. (NYSE:ED) is included among the Dividend Kings and Aristocrats List: 32 Biggest Stocks.

Morgan Stanley Boosts ED Target to $106 on Constructive Sector Trends

On March 23, Morgan Stanley raised its price recommendation on Consolidated Edison, Inc. (NYSE:ED) to $106 from $102. It reiterated an Underweight rating on the shares. The analyst said the firm is updating price targets across regulated and diversified utilities and IPPs in North America. In February, utilities outperformed the S&P’s return. The firm further noted that recent conversations in the sector have been constructive. Companies pointed to growth opportunities, stronger load expectations, and new deals tied to data centers.

Earlier, on March 12, JPMorgan also raised its price target on Consolidated Edison to $113 from $107 and maintained an Underweight rating. The firm said the changes reflect updates to its models within the North American utilities group.

Consolidated Edison, Inc. (NYSE:ED) operates as an energy-delivery company. Through its subsidiaries, including Consolidated Edison Company of New York, Inc., Orange and Rockland Utilities, Inc., and Con Edison Transmission, Inc., the company provides a range of energy-related products and services to its customers.

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