Barclays Remains a Sell on Consolidated Edison (ED)

By Jason Carr

Barclays analyst Eric Beaumont maintained a Sell rating on Consolidated Edison (EDResearch Report) today and set a price target of $64.00. The company’s shares closed last Monday at $74.39.

According to TipRanks.com, Beaumont is a 3-star analyst with an average return of 1.0% and a 47.5% success rate. Beaumont covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Public Service Enterprise, and American Electric Power.

The word on The Street in general, suggests a Hold analyst consensus rating for Consolidated Edison with a $85.00 average price target, representing a 20.4% upside. In a report issued on March 12, Morgan Stanley also maintained a Sell rating on the stock with a $89.00 price target.

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The company has a one-year high of $95.10 and a one-year low of $62.03. Currently, Consolidated Edison has an average volume of 2.48M.

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Consolidated Edison Co. of New York, Inc. engages in the distribution of electric power services. It operates through the following segments: Electric, Gas, and Steam. The company was founded in 1884 and is headquartered in New York, NY.