Mizuho upgrades Consolidated Edison to outperform with a price target of $107

From Financial Modeling Prep: 2025-06-30 15:31:00

Mizuho upgraded Consolidated Edison (NYSE:ED) to Outperform, setting a price target of $107. Recent share weakness presents an attractive entry point for a premium utility stock. ED underperformed the UTY index due to investor concerns post NYC mayoral primary. Mizuho believes these fears are overblown as NYC leadership does not influence state utility regulators or ED’s earnings formula.

Settlement talks have begun in ED’s electric and gas rate cases. The company has a strong history of resolving cases through settlements, allowing it to earn its authorized return on equity. Mizuho finds ED’s valuation compelling at a 2% discount to sector peers on a forward P/E basis. The upgrade reflects confidence in the company’s ability to navigate regulatory proceedings and deliver consistent earnings.



Read more at Financial Modeling Prep:: Mizuho Upgrades Consolidated Edison to Outperform,…