ED Price Prediction Next Week
Technical Analysis
ED's stock has shown a bullish trend in recent trading sessions, with the price rising from $86.13 to $98.26. The stock has formed a strong support level around $86.00 and is currently testing resistance near $99.00.
News Sentiment Analysis Recent news indicates positive momentum for ED:
- The company reported strong Q3 results with adjusted EPS of $1.68, beating estimates of $1.56
- Mizuho Financial Group raised its price target to $95, citing potential rate base CAGR acceleration from 6.5% to 7%
- The company has proposed rate increases of ~12% for electric customers and ~13% for gas customers
Price Prediction for Next Week Based on technical indicators and news sentiment:
- Support levels: $96.00, $94.50
- Resistance levels: $99.50, $101.00
- Target price range: $97.50-$100.50
The stock is likely to continue its upward momentum but may face resistance around $99.50. The proposed rate increases and strong earnings history support a bullish outlook. However, concerns about aging infrastructure and regulatory scrutiny could limit upside potential.
Trading Recommendation: BUY Entry point: Current price ($98.26) Target: $100.50 (+2.3%) Stop loss: $96.00 (-2.3%)
The positive momentum, analyst upgrades, and potential rate increases create favorable conditions for continued price appreciation in the coming week.
ED Similar Chart Price Prediction
The price of ED is predicted to go up -71.99%, based on the high correlation periods with AKRO. The similarity of these two price pattern on the periods is 96.09%.
ED
AKRO
Down: -71.99%Similarity: 96.09%
ED Revenue Forecast
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ED VS S&P500
We think Con Ed received a good price for its renewable energy business. It now has the capital to execute its utility investment growth plan.
Con Ed has increased its dividend for 50 straight years. Starting in 2025, we expect dividend growth can accelerate from its 3% pace the last few years.
New York's regulatory framework for electricity and natural gas provides for forward-looking rate cases and usage-decoupled customer rates, significantly reducing earnings and cash flow variability.
ED Analyst's Forecast
Andrew Weisel
Scotiabank
Hold
2025-02-24
Price Target
$100 → $101
Upside
+1.32%
Scotiabank analyst Andrew Weisel raised the firm's price target on Consolidated Edison to $101 from $100 and keeps a Sector Perform rating on the shares. Consolided Edison has shed the two primary bear cases that have weighed on shares over the past several years: a challenging regulatory/political environment and below-average growth, the analyst tells investors in a research note. While the regulatory environment can't be considered to be all clear until the high-profile Consolidated Edison Company of New York rate case is completed later this year, the firm is highly encouraged by the Orange and Rockland Utilities rate case in 2024, which was settled on meaningfully better-than-expected terms.
Nicholas Campanella
Barclays
Sell
2025-02-24
Price Target
$92 → $95
Downside
-4.7%
Andrew Weisel
Scotiabank
Sell → Hold
2024-12-12
Price Target
$90 → $100
Upside
+7.98%
