Argus lowered its price target on Consolidated Edison from $118 to $112 while reaffirming a Buy rating. The firm cited the stock's recent surge to a five-year high as the reason for the reduced target, noting that the new level implies fair value at current prices. Argus highlighted that earnings growth has been driven by regulatory increases, with further rate hikes filed for early 2026, and expects the stock to benefit from improving fundamentals and a positive sector rotation amid anticipated interest rate cuts. Consolidated Edison serves 10 million customers in New York City and Westchester County and has raised its dividend for 54 consecutive years, currently yielding 3.17%.
Consolidated Edison IncArgus reaffirms Buy rating and expects stock to benefit from improving fundamentals and sector rotation amid anticipated rate cuts.