Argus raised the firm’s price target on Edison International to $97 from $82 and keeps a Buy rating on the shares. The firm expects the sector to see fundamental growth in 2024 and to follow historical trends and improve as interest rates decline, the analyst tells investors in a research note. Edison International also benefits from a favorable regulatory environment, a solid balance sheet, and a large residential customer base in suburban Southern California, the firm states, also noting that the state’s high EV sales should drive increased demand.
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