Constellation Energy initiated with an Outperform at Raymond James

Raymond James analyst J.R. Weston initiated coverage of Constellation Energy (CEG) with an Outperform rating and $326 price target Constellation Energy distinguishes itself as the leading clean energy producer, the top nuclear fleet operator, and the largest holder of a commercial-industrial retail book, solidifying its position as a market leader, the analyst tells investors in a research note. The approved acquisition and integration of private merchant generator Calpine adds a new layer of catalysts, bolstering this low-capex story with significant financial flexibility, particularly through share buybacks, the firm says.