Edison International (EIX) Secures Strong Rate Case Win, UBS Bullish

Edison International (NYSE:EIX) ranks among the top picks for a retirement portfolio. UBS maintained its Buy rating and $66 price target for Edison International (NYSE:EIX) on September 19, following the conclusion of the electric company’s rate case. According to UBS, Edison International obtained 91% of its desired rate base and 62% of sought revenue increases.

The firm anticipates that in the upcoming weeks or on the third quarter earnings call, Edison International (NYSE:EIX) would reiterate its midpoint 6% EPS growth rate projection.

Additionally, UBS states that Edison International (NYSE:EIX) is currently trading at 9 times its projected $6.47 2027 EPS. The firm says that the rate case verdict, risk reduction steps under wildfire legislation, and a Woolsey paid claims recovery settlement will all contribute to the EIX stock.

Based in California, Edison International (NYSE:EIX) is a public utility company that specializes at generating power from a variety of sources, including renewable energy, nuclear energy, and natural gas.

While we acknowledge the potential of EIX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.