Movement Alert｜Edison Falls 5.97% in Regular Trading, Continued Pressure from SB 492 Fallout and Analyst Downgrades Erases Earlier Rebound

Market Focus09-02 21:33

On September 2, Edison declined 5.97% in regular trading, trading at $55.1 USD/share, with turnover of $19.4 million. The stock had briefly rebounded over 6% earlier in the session but reversed sharply, as selling pressure from California's SB 492 wildfire legislation and a wave of analyst downgrades continued to weigh on shares following a 22%-plus plunge on August 31.

BofA Securities downgraded Edison to neutral from buy and slashed its price target to $51 from $81, noting that SB 492 does not limit insurance subrogation, cap utility liabilities, or reform inverse condemnation. BofA warned that broader regulatory reforms may be delayed until a new governor and legislature revisit these issues, potentially pushing the timeline into next year. Separately, Ladenburg Thalmann cut its target to $50 from $69.50 while maintaining a sell rating, and Mizuho downgraded the stock to neutral with a $70 target.

Within the Electric Utilities sector, PG&E Corp fell 5.23%, Southern declined 0.71%, Oklo Inc. dropped 1.43%, NextEra lost 0.9%, and Constellation Energy Corp slipped 0.31%, reflecting broad sector weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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