Con Edison Target Raised to $96 After Q4 Update and 7 Million Share Offering
KeyBanc boosted Consolidated Edison’s target to $96 from $86 after Q4 results and confirmed its 2026 guidance, refreshed capital plan and financing roadmap. Con Edison launched a 7 million-share forward sale to raise cash for subsidiary capex and corporate needs, settling by December 2026.
1. Target Price Revision
KeyBanc lifted its Consolidated Edison target to $96 from $86 after reviewing Q4 results and maintained an Underweight rating, citing largely in-line performance.
2. 2026 Guidance and Capital Plan
Con Edison outlined 2026 guidance, refreshed its capital investment plan, detailed a long-term EPS CAGR outlook and updated its debt and equity financing roadmap.
3. Public Share Offering
The company launched a 7 million common share public offering under a forward sale agreement, underwritten by J.P. Morgan, to support subsidiary capex and corporate needs, with settlement by December 2026.