Analyst William Appicelli from UBS maintained a Buy rating on Constellation Energy Corporation and decreased the price target to $388.00 from $420.00.
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High conviction CEG bulls now have this Tradr ETFWilliam Appicelli has given his Buy rating due to a combination of factors tied to Constellation Energy’s long‑term earnings power and strategic positioning. He views the recent share price weakness as driven by short‑term disappointment around PJM contract timing and cautious guidance, while expecting clarity on PJM/FERC rules to unlock additional contracting opportunities for CEG’s sizable uncontracted nuclear capacity and support higher future EPS than management’s current outlook.
Appicelli also bases his rating on improving earnings estimates supported by higher projected power prices, substantial free cash flow deployment, and a sizable share repurchase program that he believes will be meaningfully accretive over 2026‑2029. Despite trimming the price target to reflect lower sector multiples and some reduced PPA value, he still sees attractive upside driven by robust demand growth from data centers, multiple value levers such as new contracts and margin expansion, and incremental contributions from assets like Crane and Clinton, all of which justify maintaining a Buy stance.
Appicelli covers the Utilities sector, focusing on stocks such as Vistra Corp, American Electric Power, and Constellation Energy Corporation. According to TipRanks, Appicelli has an average return of 11.0% and a 73.08% success rate on recommended stocks.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $321.00 price target.