Deutsche Bank Downgrades Consolidated Edison (ED) to Sell

Deutsche Bank downgraded Consolidated Edison (NYSE: ED) from Hold to Sell with a price target of $70.00 (from $62.00).

Analyst Jonathan Arnold said, "The company has been one of the best performers in the regulated side of the sector year-to-date (outperforming S&P Utilities by 4.5%) and now trades at one of the highest multiples as well (17.5x vs. sector average of 16.8x).

Source: StreetInsider

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