Morgan Stanley Adjusts PT on Consolidated Edison to $101 From $105, Keeps Underweight Rating

Consolidated Edison reported Q2 2026 net income of $308 million, up from $246 million, with EPS rising to $0.83 from $0.68. Adjusted results matched. CECONY drove the gain via higher electric and gas rate bases and billing timing. Con Edison reaffirmed full-year 2026 adjusted EPS guidance of $6.00 to $6.20.

Consolidated Edison (NYSE: ED) reported 2026 Q2 net income for common stock of $308 million, or $0.83 per share, versus $246 million, or $0.68 per share in Q2 2025. Adjusted earnings were $308 million, or $0.83 per share, versus $240 million, or $0.67 per share. For 2026, it reaffirmed adjusted EPS guidance of $6.00 to $6.20.

CONSOLIDATED EDISON INC (ED) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 ed-20260630xexx991.htm EX-99.1 Document Exhibit 99.1 Media Relations Consolidated Edison, Inc. 212 460 4111 (24 hours) 4 Irving Place New York, NY 10003 www.conEdison.com FOR IMMEDIATE RELEASE Contact: Allan Drury August 6, 2026 212-460-4111 CON EDISON REPORTS 2026 SECO

On June 2, Mizuho downgraded Consolidated Edison (ED) to Neutral from Outperform and set a $105 price target, citing a constrained growth outlook and valuation discount versus peers that it said is no longer compelling, limiting upside. On May 21, Morgan Stanley cut its target to $99 from $105 and kept an Underweight rating, noting utility underperformance versus the S&P.

Morgan Stanley reiterated an Underweight rating on Consolidated Edison (ED) and cut its price target to $99 from $105, citing its April update of targets for North American regulated utilities and noting utility stocks underperformed the S&P in May. Con Edison’s CFO Kirk Andrews said the company is executing its 2026 investment plan, reaffirming 2026 adjusted EPS guidance, after settling a forward sale of 7 million shares and completing a $357.5 million sale of its Mountain Valley Pipeline stake

Pershing Square Capital Management acquired a 5.4-5.76% stake in Visa (NYSE:V), buying 3.27 million shares worth $1.12 billion. The firm also invested in Mastercard and S&P Global, totaling over $3 billion in financial infrastructure. Visa reported strong Q3 2026 results with double-digit revenue growth and expanding into AI and stablecoin-related areas.