12:01 PM EDT, 09/16/2024 (MT Newswires) -- Edison International ( EIX ) is expected to achieve 5% to 7% growth in core earnings per share through 2028, supported by key growth drivers such as electric vehicle adoption and ongoing electrification in California, RBC Capital Markets said in a note Monday.

The company plans additional investments in advanced metering infrastructure and NextGen ERP, which could push its rate base growth to the higher end of the guided range, the investment firm said.

Edison benefits from California's clean energy policies. The company's subsidiary, Southern California Edison, has the potential to sustain significant annual capital spending due to its wildfire mitigation efforts and grid investment, RBC said.

RBC maintained an outperform rating on Edison with a price target of $94.

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