As previously reported, KeyBanc analyst Sophie Karp upgraded Consolidated Edison to Overweight from Sector Weight with a price target of $98. She thinks sentiment on Consolidated Edison "exceedingly negative" to an unjustified degree, noting that there are seven Sell recommendations and nine Holds on the stock at other firms. However, the CECONY case settlement "appears imminent," which should provide Consolidated with three-year long rate and earnings stability, argued Karp. She thinks the NY rate settlement will provide ROE stability, which will be especially attractive in the current environment of declining rates, added Karp.