Morgan Stanley raised its price target on Edison International from $64 to $66 while maintaining an Underweight rating, implying a nearly 13% downside from current levels. The adjustment came as part of the firm's monthly update for North American regulated and diversified utilities, noting the sector fell 5.5% in May against a 5.1% gain for the S&P 500. Separately, Edison declared a quarterly dividend of $0.8775 per share, payable July 31 to shareholders of record July 7, marking 22 consecutive years of payout growth and a 4.64% annual yield.
Edison InternationalMorgan Stanley maintains Underweight rating with 13% downside, despite raising price target slightly.
Morgan Stanley