Consolidated Edison Has an Opportunity For Accelerated Rate Base Growth
<p>Analysts at RBC Capital provided their views on <a href='https://financialmodelingprep.com/financial-summary/ED'>Consolidated Edison, Inc. (NYSE:ED)</a>, stating that there is an opportunity for accelerated rate base growth, and increasing their price target on the company’s shares to $85 from $78.</p>
<p>According to the brokerage, New York seems to be at a crossroad, having ambitious clean energy goals, but needs to support its utilities to achieve them. The analysts believe the company has the potential to capitalize on meaningful investment opportunities, but the regulatory environment is challenging. </p>
<p>The CECONY GRC filing in January will be key to see how the recent gas ban and alignment from the state regarding electrification could impact regulation from the PSC. According to the analysts, a more constructive policy from regulators could unlock greater value for the company’s shareholders. </p>

NYSE:ED