UPDATE: Jefferies Downgrades Consolidated Edison Following Inability To Reach Settlement

In a report published Thursday, Jefferies analyst Paul Fremont downgraded Consolidated Edison (NYSE: ED ) from a Hold rating to an Underperform rating and lowered the price target from $60.00 to $49.00. In the report, Jefferies says "We are downgrading Con Ed to Underperform from Hold based on our