Short Term Price Target on Edison International (EIX)

Edison International (NYSE:EIX) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $82 and the lowest price target forecast is $71. The average forecast of all the analysts is $76 and the expected standard deviation is $4.34.

Shares of Edison International rose by 5.64% in the last five trading days and 9.21% for the last 4 weeks. Edison International is up 8.65% in the last 3-month period. Year-to-Date the stock performance stands at 32.9%. Also, Jefferies maintains their rating on the shares of Edison International (NYSE:EIX). The current rating of the shares is Hold. Equity Analysts at the Firm raises the price target to $72 per share from $66 per share. The rating by the firm was issued on May 3, 2016.

Edison International (NYSE:EIX) : Zacks Investment Research ranks Edison International (NYSE:EIX) as 3, which is a Hold recommendation. 3 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 8 research analysts is 2.25, which indicates as a Buy.

Edison International (NYSE:EIX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $75.91 and $75.71 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $77.71. The buying momentum continued till the end and the stock did not give up its gains. It closed at $77.67, notching a gain of 2.06% for the day. The total traded volume was 3,282,790 . The stock had closed at $76.10 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged that Vasquez Gaddi H., officer (Senior Vice President) of Edison International, had unloaded 6,842 shares at an average price of $73.83 in a transaction dated on June 10, 2016. The total value of the transaction was worth $505,145.

Edison International is the parent holding company of Southern California Edison Company (SCE) and subsidiaries. SCE is a public utility primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. Edison International is also the parent company of subsidiaries that are engaged in businesses related to the generation or use of electricity. Edison Internationals other subsidiaries include Edison Mission Group Inc. and SoCore Energy LLC. Edison Mission Group Inc. is a wholly owned subsidiary of Edison International and the parent company of Edison Mission Energy and Edison Capital. SoCore Energy LLC, a subsidiary engaged in distributed generation, has constructed 26 Megawatt of rooftop solar systems in nine states selling power back to commercial customers under power purchase agreements.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.