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Evercore ISI Sticks to Their Sell Rating for Consolidated Edison (ED)

Evercore ISI analyst Durgesh Chopra maintained a Sell rating on Consolidated Edison (EDResearch Report) yesterday and set a price target of $86.00. The company’s shares closed last Friday at $93.98.

According to TipRanks.com, Chopra is a 4-star analyst with an average return of 8.9% and a 67.9% success rate. Chopra covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Pinnacle West Capital.

Consolidated Edison has an analyst consensus of Moderate Sell, with a price target consensus of $86.91, which is a -5.1% downside from current levels. In a report issued on May 2, Wells Fargo also downgraded the stock to Sell with a $94.00 price target.

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Based on Consolidated Edison’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.42 billion and net profit of $224 million. In comparison, last year the company earned revenue of $2.96 billion and had a net profit of $43 million.

Based on the recent corporate insider activity of 153 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Consolidated Edison Co. of New York, Inc. engages in the distribution of electric power services. It operates through the following segments: Electric, Gas, and Steam. The company was founded in 1884 and is headquartered in New York, NY.

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