Edison International Stock Drops Over Wildfire Liability Concerns
On Wednesday, Edison International (EIX) shares fell more than 6% after an analyst at JPMorgan Chase cut his price target for the stock from $82 to $61. The move came amid ongoing concerns over regulatory setbacks in California and uncertainty surrounding liability protections for utilities following a legislative session that ended without voting on key wildfire legislation. The lack of action by the California legislature left Edison vulnerable, particularly due to lawsuits against its subsidiary Southern California Edison related to the 2025 Eaton fire. Analyst Aidan Kelly noted this as a significant risk and expressed skepticism about future protections for utilities in light of political volatility around such issues. Despite maintaining a neutral recommendation on the stock, the analyst advised caution given the potential financial exposure from ongoing litigation.
Topics: California Wildfire Liability Bill Edison International JPMorgan analyst report