Consolidated Edison (ED) Gets a Sell from J.P. Morgan
J.P. Morgan analyst Jeremy Tonet maintained a Sell rating on Consolidated Edison yesterday and set a price target of $109.00. The company’s shares closed yesterday at $106.51.
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Tonet covers the Energy sector, focusing on stocks such as Pembina Pipeline, Oneok, and Kinetik. According to TipRanks, Tonet has an average return of 9.3% and a 60.64% success rate on recommended stocks.
Consolidated Edison has an analyst consensus of Moderate Sell, with a price target consensus of $111.00, representing a 4.22% upside. In a report released on May 13, Goldman Sachs also maintained a Sell rating on the stock with a $105.00 price target.
Based on Consolidated Edison’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.1 billion and a net profit of $924 million. In comparison, last year the company earned a revenue of $4.8 billion and had a net profit of $791 million
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