Goldman Sachs analyst Michael Lapides last night upgraded Consolidated Edison to Neutral from Sell and raised his price target for the shares to $73 from $72. The analyst is more positive on the shares following the underperformance in 2018. Further, to reflect improved regulated earnings and renewable growth in 2019, Lapides slightly increased his long-term estimates for Consolidated Edison.

Scotiabank lowered the firm's price target on Consolidated Edison to $85 from $91 and keeps an Underperform rating on the shares. Interest rates remain stubbornly high, which has weighed on the sector's valuation, the analyst tells investors. The firm views both Canadian and North American utility stocks as undervalued but sees upside for Canadian utility stocks following their steady underperformance compared to its U.S. peers. Fundamentally, Scotiabank remains bullish on the group's long-term earnings outlook given the tailwinds driving its strong rate base growth.