Analyst Ross Fowler from Bank of America Securities reiterated a Hold rating on Exelon and increased the price target to $50.00 from $48.00.
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Ross Fowler has given his Hold rating due to a combination of factors including Exelon’s expected Q3’25 operating earnings of $0.78 per share, which aligns with management guidance and slightly exceeds consensus expectations. This suggests stability in the company’s financial performance, as approximately 29% of the annual earnings guidance is anticipated to be realized in the third quarter. Additionally, Exelon is expected to reaffirm its full-year EPS guidance and maintain its capital investment plans, which include significant transmission investment opportunities.
Another reason for the Hold rating is the ongoing regulatory proceedings in key states like Maryland and Illinois, which could impact Exelon’s operations and future growth. These proceedings are crucial as they may provide insights into the regulatory environment and potential legislative changes affecting electricity generation. Furthermore, while the price objective has been raised to $50 from $48, reflecting updated peer group P/E multiples, the overall valuation remains consistent with market expectations, supporting the decision to maintain a neutral stance.
In another report released on October 10, UBS also maintained a Hold rating on the stock with a $50.00 price target.