UBS Raises Edison International (EIX) Price Target to $70, Keeps Buy Rating

Core Insights - UBS raised the price target for Edison International (EIX) to $70 from $66 while maintaining a Buy rating on the shares [1] Financial Performance - Edison International reported third-quarter core EPS of $2.34, an increase from $1.51 in the same period last year [2] - The company's revenue for the quarter was $5.75 billion, reflecting a 10% year-over-year growth [3] - Operating income rose to $1.43 billion from $995 million in the prior year period [3] - Edison International reaffirmed its core EPS growth target of 5% to 7% through 2028 [3] Legislative Impact - The approval of SB 254 is highlighted as a significant advancement for Edison International, aimed at benefiting IOU customers, reducing wildfire risks, and enhancing the financial stability of investor-owned utilities in California [2]