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Will This Price Target Cut Hurt Consolidated Edison (ED) Stock On Thursday?

NEW YORK (TheStreet) -- Consolidated Edison Inc.'s (ED - Get Report) price target was lowered to $54 from $55 by analysts at UBS (UBS) on Thursday based on the firm's belief the company's growth expectations have been challenged by slowing utility projects.

The firm kept its "neutral" rating on the company, which delivers electricity, natural gas, and steam to customers.

Shares of Consolidated Edison are down -0.34% to $55.03 at the start of trade on Thursday.

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Separately, TheStreet Ratings team rates CONSOLIDATED EDISON INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CONSOLIDATED EDISON INC (ED) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, attractive valuation levels, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 7.7%. Since the same quarter one year prior, revenues rose by 19.0%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Multi-Utilities industry. The net income increased by 88.0% when compared to the same quarter one year prior, rising from $192.00 million to $361.00 million.
  • Net operating cash flow has significantly increased by 366.66% to $224.00 million when compared to the same quarter last year. In addition, CONSOLIDATED EDISON INC has also vastly surpassed the industry average cash flow growth rate of 8.08%.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Multi-Utilities industry and the overall market on the basis of return on equity, CONSOLIDATED EDISON INC has outperformed in comparison with the industry average, but has underperformed when compared to that of the S&P 500.
  • You can view the full analysis from the report here: ED Ratings Report
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