Why Edison International Stock Withered on Wednesday

Still reeling from a recent regulatory setback in California, Edison International (NYSE: EIX) stock was dealt a fresh blow on Wednesday. An analyst tracking the California power utility made a deep cut to his price target; this, combined with generally gloomy sentiment on the company, drove the shares down by more than 6% on the day.Aidan Kelly from JPMorgan Chase's JPMorgan was the lead prognosticator behind the reduction. In a new research note, the pundit changed his Edison price target to $61 per share, well down from his previous $82. However, he maintained his neutral recommendation on the utility stock. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool