Consolidated Edison upgraded to Sector Weight from Underweight at KeyBanc

KeyBanc upgraded Consolidated Edison to Sector Weight from Underweight without a price target. The company’s “timely disposition” of its non-regulated businesses allowed it to offset its equity needs, the analyst tells investors in a research note. The firm says that with the multi-year rate plan in place and political rhetoric aimed at the utility subsided, it sees no immediate negative catalysts on the horizon for the shares.