Truist Cuts Price Targets Across Three Regulated Utilities on Policy Risk

Truist cut price targets on three separate regulated utilities in short order: Edison International on wildfire policy uncertainty, Entergy on a weaker regulatory outlook with a new target of $119, and Duke Energy on regulatory timing concerns. The common thread across all three is regulatory and policy risk rather than operating performance. The clustering of cuts across utilities in different states suggests analysts are reassessing regulatory risk broadly in the sector, not reacting to a single company-specific event. Wildfire liability in particular has become a recurring overhang for utilities operating in fire-prone regions, echoing the costs that reshaped California utility stocks in prior years. What's unresolved is the specific magnitude of the target cuts for Edison and Duke, which weren't disclosed in the wire items, and whether state regulators will act on the timelines utilities are requesting.