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ConEd -1.8% as shares are cut to Hold at Jefferies

  • Consolidated Edison (ED -1.8%) is downgraded to Hold from Buy with a $58 price target, down from $67, at Jefferies, due to lower estimates based on a reduction in retail margins at the company's unregulated business (Con Ed Solutions).
  • The firm also believes parties involved in the current electric, gas and steam rate filing will be unable to reach a settlement agreement, which could put further downward pressure on the company's earnings.
Comments (1)
  • djfunkydj
    , contributor
    Comments (92) | Send Message
    Jefferies is just messing with the market. In may its pt for ed was 68-70. Stock fundamentals are still good.
    12 Sep 2013, 08:51 AM Reply Like
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