Citi analyst Praful Mehta raised his price target for Edison International to $64 to reflect a change in his wildfire liability estimates. The analyst now estimates gross liabilities of $3B for Thomas Fire based on insured claims of $1.8B grossed up for uninsured claims and legal fees. He estimates $4B of gross liabilities for the Woolsey fire based on insured claims of $2.1B. Net liabilities for Edison, after accounting for insurance, a 70% settlement value assumption and a tax shield of 21% for both the 2018 and 2018 fires, is estimated at $2.5B-$3.0B, Mehta tells investors in a research note. He keeps a Buy rating on Edison International.