Fly News Breaks for October 2, 2019
Oct 2, 2019 | 06:38 EDT
Mizuho analyst Paul Fremont raised his price target for Edison International to $86 from $76 saying the shares look attractive based on his higher earnings estimates. However, a finding of criminal liability by the attorney general in the Woolsey fire could raise serious questions about recoverability of future wildfire claims for which Edison shareholders could be held responsible, Fremont tells investors in a research note. While the AB-1054 cap limits payments over a three-year period, it does not ultimately mitigate the dollar amount of wildfire damages, adds the analyst. He maintains a Buy rating on Edison International.
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