Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Upgraded to “Buy” at Zacks Investment Research

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage presently has a $6.25 price target on the utilities provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.61% from the company’s current price.

According to Zacks, “EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (Edenor) is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (both in GWh and Pesos). Through a concession, Edenor distributes electricity exclusively to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires, which has a population of approximately 7 million people and an area of 4,637 sq. km. “

EDN stock traded down $0.02 during mid-day trading on Thursday, reaching $5.55. The company’s stock had a trading volume of 4,134 shares, compared to its average volume of 43,098. The stock has a market cap of $242.83 million, a PE ratio of -0.74 and a beta of 0.90. The company has a current ratio of 0.56, a quick ratio of 0.53 and a debt-to-equity ratio of 0.13. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a fifty-two week low of $3.27 and a fifty-two week high of $7.90. The company’s 50 day moving average is $6.55 and its two-hundred day moving average is $5.40.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Edenor SA engages in the provision of electric power distribution services. It holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of Buenos Aires. The company was founded on July 21, 1992 and is headquartered in Buenos Aires, Argentina.

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