Deutsche Bank analyst Jonathan Arnold noted that utility stocks have lost about 12% year-to-date as a group and he now sees regulated utilities offering good relative value in 2016, assuming Fed hikes are measured and the yield curve flattens as expected. Arnold upgraded Consolidated Edison to Hold from Sell as he does not see material downside at current levels and given a more favorable view on regulated valuations. The analyst, who also upgraded ITC Holdings (ITC) and WEC Energy (WEC) to Buy ratings in his industry overview note, raised his price target on Consolidated Ed to $62 from $60.

Meeting to be held in Canada on April 30 hosted by Mizuho.