** Edison International EIX.N drops 7.9% to $49.49 on Mon as report shows its Southern California Edison subsidiary underestimated the potential size of the Eaton Canyon fire in Los Angeles
** EIX is on track for biggest daily pct decline since April 30 and lowest close of the year
** In Jan, Eaton Fire scorched more than 14,000 acres (57 square km) east of Los Angeles before it was contained
** SCE's internal wildfire forecasts underestimated by a factor of ten the size of the Eaton Canyon fire, according to documents reviewed by Reuters
** PG&E Corp PCG.N, whose utility subsidiary covers Northern and Central California, is also down ~5% on the session
** Among 19 analysts that cover EIX, avg rating it "Buy" and median PT is $69
** EIX is down 37.5% YTD and vs 6.6% rise in S&P 500 utilities index .SPLRCU
(Reporting by Chibuike Oguh in New York)
((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))
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