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.

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Comments (1)
  • djfunkydj
    , contributor
    Comments (93) | 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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