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Consolidated Edison upgraded to Buy from Hold at Argus
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Consolidated Edison upgraded to Buy from Hold at Argus

Argus analyst Marie Ferguson upgraded Consolidated Edison to Buy from Hold with a $104 price target. The company is expected to benefit from higher rates, higher ROE, as well as tax credits, and its management expects earnings to rise as fuel and purchased energy costs ease and interest expense declines, the analyst tells investors in a research note. The firm is also boosting its FY23 EPS view on Consolidated Edison to $4.85 from $4.70 while setting a FY24 estimate of $5.10.

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