Morgan Stanley Releases a Sell Rating on Consolidated Edison (ED)
Morgan Stanley analyst David Arcaro assigned a Sell rating to the stock yesterday. The company’s shares closed yesterday at $109.11.
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Arcaro covers the Utilities sector, focusing on stocks such as Vistra Corp, American Electric Power, and CMS Energy. According to TipRanks, Arcaro has an average return of 14.7% and a 68.13% success rate on recommended stocks.
In addition to Morgan Stanley, Consolidated Edison also received a Sell from J.P. Morgan’s Jeremy Tonet in a report issued on March 12. However, on the same day, TipRanks – Anthropic reiterated a Hold rating on Consolidated Edison (NYSE: ED).
Based on Consolidated Edison’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $4 billion and a net profit of $297 million. In comparison, last year the company earned a revenue of $3.67 billion and had a net profit of $310 million
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