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Fly News Breaks for February 24, 2020
Feb 24, 2020 | 06:20 EDT
Mizuho analyst Anthony Crowdell downgraded Consolidated Edison to Neutral from Buy with a price target of $91, down from $98. The analyst cites valuation and lower assumed earnings power following the company's three-year outlook for the downgrade. Crowdell sees the stock trading at a 5% price-to-earnings discount to pees, which he views as fair value given Consolidated Edison's "below-average" earnings growth rate.
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