Wunderlich Maintains Hold on Edison International (EIX)

Wunderlich is out with its report today on Edison International EIX, maintaining Hold. In a note to clients, Wunderlich writes, "Edison International (EIX) reported 1Q11 adjusted EPS of $0.62 versus $0.82 in the year-ago period and our estimate of $0.60. As expected, the lower results were driven by weaker earnings from EME, EIX's unregulated generation subsidiary. The poor unregulated results more than offset the improvement in regulated earnings. EIX maintained adjusted EPS guidance for 2011 in a range of $2.60-$2.90. We are maintaining our 2011 and 2012 EPS estimates at $2.80 and $2.60, respectively. We are also maintaining our Hold rating and $39 price target." Shares of EIX closed Monday at $39.25.