Edison International price target raised to $100 from $94 at RBC Capital

RBC Capital analyst Shelby Tucker raised the firm’s price target on Edison International to $100 from $94 and keeps an Outperform rating on the shares after hosting investor meetings with its management team. The firm continues to view the company as a “high quality operator”, with investor confidence around wildfire risk improving from best in class mitigation efforts, the analyst tells investors in a research note. RBC adds that it favors Edison International’s “pure wires utility” angle as a way to decrease risk and benefit from strong rate base growth.