Consolidated Edison price target raised to $97 from $89 at Barclays

Barclays analyst Nicholas Campanella raised the firm’s price target on Consolidated Edison to $97 from $89 but keeps an Equal Weight rating on the shares. The analyst cites the company’s “strong start to the year” and believes the management is well positioned to eventually raise FY24 EPS guidance following its Q1 results. The firm remains at neutral due to valuation however, with the stock’s 16.3-times forward earnings estimate seen as a 14% premium to its large-cap peer group, Barclays added.