Edison Int'l Upgraded To Buy - Analyst Blog
In the third quarter of 2008, Edison International (EIX) generated total operating revenue of $4.11 billion, up 4.3% compared to total revenue of $3.94 billion in the 3rd quarter of 2007.
Core earnings totaled $482 million, or $1.46 per share, representing a nearly 3.7% increase compared to $465 million, or $1.41 per share, in the third quarter of 2007. Core earnings increased mainly due to higher operating income at Southern California Edison.
The company reaffirmed its 2008 earnings guidance range of $3.61 to $4.01 per share. However, Edison International now expects fiscal 2008 results to be at the middle of the range rather than at the upper-end as previously announced.
We upgraded shares of Edison International Inc. from a Hold to a Buy on November 7, 2008.
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