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Fly News Breaks for June 4, 2019
EIX
Jun 4, 2019 | 05:42 EDT
UBS analyst Daniel Ford upgraded Edison International to Buy from Neutral and raised his price target for the shares to $72 from $67. The analyst sees improving regulatory and legislative visibility in California with progress toward wildfire legislation for 2019 and changes at the California Public Utilities Commission. While failure to pass wildfire legislation in 2019 could provide downside, shares of Edison are pricing in $7B of new equity and a 10% discount for strict liability to buffer this risk, Ford tells investors in a research note.
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