With multiple significant wildfires burning in the Los Angeles area, near Edison International (EIX) service territory, Morgan Stanley notes that so far the most damaging fire, the Palisades Fire, does not appear to involve Edison equipment. However, the firm would watch for any reports from Edison indicating equipment involvement with other fires as several appear to have ignited near utility facilities. The firm maintains an Underweight rating and $71 price target on Edison shares.
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