Jul. 31 at 8:53 PM
Edison International shares declined after Barclays downgraded the utility to Equal Weight from Overweight and lowered its price target to
$75 from
$78, citing rising regulatory uncertainty in California and the stock's strong year-to-date performance. The downgrade came as investors also digested the company's Q2 2026 earnings and management's warning about wildfire-related legislation.
The company reported Q2 EPS of
$1.54, well above the
$1.20 consensus, but revenue of
$4.36 billion missed expectations of
$4.76 billion. During the earnings call, CEO Pedro Pizarro warned that California's investor-owned utilities could face credit rating downgrades if lawmakers fail to approve a wildfire liability framework before the legislative session ends on August 31, raising concerns over financing costs and dividend stability.
$EIX