Morgan Stanley Says SELL EIX, But This Utility Just HIKED Dividends 22 Years! What Now?
How can a major financial firm issue an Underweight rating on a stock, yet that same company confidently announces its 22nd consecutive year of dividend growth? Morgan Stanley recently updated its utilities outlook, raising its price target for Edison International, EIX, to $61 from $57, but remarkably maintained an Underweight rating. This comes despite Edison International's CEO, Pedro Pizarro, expressing strong confidence in the company's financial health, evidenced by a 6% increase in its annual dividend to $3.51 per share. This move underscores management's commitment to long-term earnings per share growth, even as utilities have generally underperformed the broader market. The contrast between analyst caution and the company's robust dividend history creates a compelling narrative for investors. For more insights on market dynamics and surprising stock developments, make sure to subscribe to our channel!
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