Wells Fargo Upgrades Consolidated Edison to Overweight with $118 Price Target

Key Facts

1Wells Fargo upgraded Consolidated Edison from Equal Weight to Overweight and raised its price target to $118 from $108.

2The company reported strong Q2 2026 revenues of $4.07 billion, a 13% increase year-over-year.

Wells Fargo upgraded Consolidated Edison from Equal Weight to Overweight and raised its price target to $118 from $108. Media reports indicated the upgrade was driven by the company's defensive positioning in an AI-driven market, its investments in grid reliability and electrification, and its recent performance exceeding earnings-per-share estimates.

The company reported strong Q2 2026 revenues of $4.07 billion, representing a 13% increase on a year-over-year basis. The stock, ticker ED, closed at $103.39 on October 2, 2026, within a daily trading range of $103.03 to $104.48.

Consolidated Edison is scheduled to webcast its annual investor relations update on October 6, 2026. The presentation is expected to cover electrification, grid resilience, customer costs, and the company's long-term financial outlook.