Scotiabank analyst Andrew Weisel initiated coverage of Constellation Energy (CEG) with an Outperform rating and $401 price target The firm has a bullish fundamental view on the independent power producers group, citing a “robust” outlook for electricity demand and strong cash flow generation. Constellation is Scotiabank’s top pick overall. The company is an industry leader on almost every metric in a sector seeing “unprecedented” demand, the analyst tells investors in a research note.
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