BUZZ-Jefferies raises PT on Consolidated Edison as "steady eddy" approach pays off

Reuters02-23

** Jefferies raises price target on utility Consolidated Edison ED.N to $118 from $112; reiterates "hold" rating

** New PT represents a 7.5% upside to the stock's closing price

** Brokerage says ED is best for investors looking for the 'anti-data center' trade

** The recently approved rate case for the co, supports earnings stability and predictability in the next three years, adds the brokerage

** However, beyond 2028, Jefferies is more cautious as the next rate-case cycle may require approval for higher capital spending, with affordability concerns a headwind

** Three of 19 brokerages rate the stock "buy" or higher; 10 "hold" and six "sell"; median PT is $106 - data compiled by LSEG

** In 2025, ED was up 11.3%

(Reporting by Dharna Bafna in Bengaluru)

((Dharna.bafna@thomsonreuters.com))

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