Morgan Stanley Reaffirms Their Hold Rating on Edison International (EIX)

By Austin Angelo

In a report released today, Stephen Byrd from Morgan Stanley maintained a Hold rating on Edison International (EIXResearch Report), with a price target of $72. The company’s shares closed last Monday at $72.29, close to its 52-week high of $75.39.

According to TipRanks.com, Byrd is a 1-star analyst with an average return of -2.0% and a 51.9% success rate. Byrd covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Consolidated Edison, Inc., and Public Service Enterprise.

Currently, the analyst consensus on Edison International is a Moderate Buy with an average price target of $75.

See today’s analyst top recommended stocks >>

Based on Edison International’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.81 billion and net profit of $392 million. In comparison, last year the company earned revenue of $2.82 billion and had a net profit of $276 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.