Morgan Stanley Raises its Price Target on Edison International (EIX) to $68 from $61

Core Viewpoint - Edison International (NYSE:EIX) is identified as one of the high growth stocks within the S&P 500, indicating strong investment potential in the current market environment [1]. Financial Performance - For Q4, Edison reported earnings per share (EPS) of $1.86, surpassing the consensus estimate of $1.45 [4]. - The company achieved a full-year revenue of $19.32 billion, exceeding the consensus of $18.45 billion [4]. - Core EPS for Edison was reported at $6.55, significantly above consensus and initial guidance [3]. Analyst Ratings and Price Targets - Morgan Stanley raised its price target for Edison International to $68 from $61 while maintaining an Underweight rating, citing a broader update across its utility coverage [2]. - TD Cowen analyst Shelby Tucker increased the price target to $83 from $71 and maintained a Buy rating, reflecting confidence in the company's growth trajectory [3]. Growth Guidance - Management reaffirmed a long-term growth target of 5%–7% and introduced guidance for 2026 and 2027 [3]. - The company has made significant progress in enhancing safety and resilience in its energy system, with over 7,000 miles of covered conductor installed in high fire risk areas, achieving over 90% of its planned grid hardening efforts [4]. Rate Adjustments - Edison has implemented a 2.3% decrease in residential rates and a 5.3% reduction for small and medium-sized businesses, emphasizing its commitment to affordability [4].