What the bad jobs report means for markets
On Friday, Mizuho updated its price target for Edison International (NYSE:EIX) shares, raising it to $94 from $85, while maintaining an Outperform rating on the stock. The firm's analyst cited an improved price-to-earnings (P/E) valuation for the adjustment.
The update reflects a more optimistic valuation approach, shifting from a 10% P/E discount to a 5% P/E discount. This change is based on the increased likelihood of recovering the TKM liabilities, which has influenced the analyst's perspective on the stock's value.
Alongside the update for Edison International, Mizuho also revised its price target for Sempra Energy (NYSE:NYSE:SRE), increasing it slightly to $88 from $86. This adjustment was attributed to improved market P/E multiples observed within the electric and gas utility group.
The analyst's comments suggest a positive outlook for Edison International, indicating a potential for growth and recovery in specific financial areas.
The revised price targets for both Edison International and Sempra Energy reflect the firm's assessment of the current market conditions and the performance of these utility companies.
Investors and market watchers may take note of these updates as they reflect the analyst's confidence in the companies' abilities to navigate their respective financial landscapes and improve their market positions.
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