Truist reduced EIX’s price target amid rising sector investment driven by data center demand and infrastructure needs.
Truist cut its price target on Edison International (EIX) to $79 from $82 while maintaining a Hold rating. The adjustment reflects updated models in the power and utilities sector ahead of an industry forum, citing sustained investment in data center infrastructure as a key growth driver for vertically integrated electric utilities.
The firm noted the sector is in its third year of the data center wave, with expectations for continued load growth. Morgan Stanley also revised its EIX target to $64 from $70 on May 21, maintaining an Underweight rating, as utilities underperformed the S&P 500 in April.
Edison International operates in electric power supply and distribution, with a focus on renewable energy and energy technologies.