Consolidated Edison Inc. (ED): Analyst Weighs In On NYC Mayoral Race

Group 1 - Consolidated Edison, Inc. (NYSE:ED) is recognized as one of the 12 most promising clean energy stocks by Wall Street analysts [1] - Evercore ISI initiated coverage of Consolidated Edison with an In Line rating and a price target of $106, noting the company's ability to offset future equity needs through the sale of its investment in the Mountain Valley Pipeline [2] - The regulatory environment in Consolidated's service areas and the upcoming New York City mayoral election prompted a neutral stance from analysts [2] - Morgan Stanley raised the price target for Consolidated Edison, highlighting the long-term advantages of nuclear energy that are currently underappreciated [2] Group 2 - Consolidated Edison has focused its power generation efforts solely in New York and is investing significantly in clean energy transmission, electrification, energy efficiency, electric vehicle infrastructure, and battery storage [3] - In the second quarter earnings report, Consolidated Edison posted earnings per share of $0.67, exceeding market estimates by $0.01 [3] - The company benefits from the New York State Public Service Commission's approval of 29 infrastructure projects worth $636 million, which will enable 642 MW of electrification upgrades [3]