Consolidated Edison, Inc. logo ED - Consolidated Edison, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 2
HOLD 18
SELL 7
STRONG
SELL
0
| PRICE TARGET: $107.75 DETAILS
HIGH: $118.00
LOW: $97.00
MEDIAN: $107.50
CONSENSUS: $107.75
DOWNSIDE: 3.68%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 85% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Moderate
Trading 18.2% above fair value
Current Price $111.87
Bear Case $82.79 26.0% downside ($82.79 - $111.87) / $111.87 = -26.0% $5.64 × 14x P/E
Fair Value $94.62 15.4% downside ($94.62 - $111.87) / $111.87 = -15.4% $5.64 × 16x P/E
Bull Case $106.44 4.8% downside ($106.44 - $111.87) / $111.87 = -4.8% $5.64 × 18x P/E

Adjust Assumptions

16.0x
5.64$

Key Value Driver

Normalized P/E multiple (16x base case)

Implied Market Multiple 19.8x

Plain-Language Summary

Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $107.75 from 27 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $94.62 per share.

Warnings

Dividend-based valuation: $60.28 (below our primary estimate by 33%). Large gaps may signal the dividend doesn't reflect full earning power.

Key Risks

  • Growth DCF inappropriate — terminal value assumptions dominate
  • EV/EBITDA misleading for regulated businesses where capex is mandated
  • Regulatory risk is a fat tail not visible in normal multiples