Edison downgraded to Hold at Argus


Edison International (EIX -1.2%) is downgraded to Hold from Buy at Argus on valuation, as the firm sees limited near-term upside following a 27% gain in shares since mid-January and is now fairly valued relative to peers.

However, the firm says EIX's core operating utility, Southern California Edison, should continue to drive EPS growth, and shareholders should benefit from the company's regulated profile, a favorable 2012 general rate case, and an improving balance sheet.

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