Constellation Energy Stock (CEG) Soars 10% on Nuclear Meta Deal

Constellation Energy (CEG) stock rallied on Tuesday after the nuclear energy company announced a deal with Meta Platforms (META). The agreement with Meta starts in June 2027 and will support the continued use of the company’s Clinton nuclear plant for another two decades.

Meta has saved Constellation’s Clinton plant from an early closure with its clean energy initiative. The plant was heading toward retirement in mid-2027 due to the end of the Zero Emission Credit. That credit had already extended the life of the plant by 10 years after it was almost shut down in 2017 due to financial losses.

Illinois Rep. Mary Miller said, “Extending the plant’s operating license will preserve over 1,000 high-paying jobs for the next 20 years, providing long-term economic security and growth.” She was joined by other Representatives and local leaders who praised the deal between Constellation and Meta.

CEG Stock Movement Today

Constellation Energy stock surged 9.64% in Tuesday’s pre-market trading. That followed a 2.38% rally yesterday. Investors will also note that the company’s shares have increased 40.56% year-to-date and have gained 54.29% over the past 12 months.

Spark, TipRanks’ artificial intelligence (AI) investor, is bullish on CEG stock. It rates the shares as Outperform (75) and has a $324 price target, implying a 3.37% upside for the shares. The AI analyst highlighted “strong technical momentum and a positive earnings outlook” as potential positive catalysts for the stock.

Is Constellation Energy Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for Constellation Energy is Moderate Buy, based on eight Buy and four Hold ratings over the past three months. With that comes an average CEG stock price target of $301.30, representing a potential 3.87% downside for the shares.

See more CEG stock analyst ratings