J.P. Morgan Keeps Their Sell Rating on Consolidated Edison (ED)

In a report released yesterday, Jeremy Tonet from J.P. Morgan maintained a Sell rating on Consolidated Edison (EDResearch Report), with a price target of $88.00. The company’s shares closed yesterday at $95.29.

Tonet covers the Industrial Goods sector, focusing on stocks such as TC Energy, Enbridge, and Enterprise Products Partners. According to TipRanks, Tonet has an average return of 4.9% and a 54.25% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Consolidated Edison with a $86.44 average price target.

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Based on Consolidated Edison’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.17 billion and a net profit of $613 million. In comparison, last year the company earned a revenue of $3.61 billion and had a net profit of $538 million

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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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