Wunderlich Maintains Hold on Edison International

Wunderlich is out with its report today on Edison International EIX, maintaining Hold. In its report, Wunderlich writes, "EIX currently trades at 13.2 times our 2012 EPS estimate and 7.3 times 2012E EBITDA. However, excluding the EME losses, the utility and parent trade at about 11.5x 2012E earnings. Assuming a reasonable outcome in the pending rate case, EIX could be an interesting stock in an improving economy in 2012. We are maintaining our $39 price target and Hold rating on EIX shares." At the time of posting, shares of EIX were trading pre-market at $35.00, down 0.14% from Thursday's close.