BMO Capital raised the firm’s price target on Constellation Energy (CEG) to $350 from $337 and keeps an Outperform rating on the shares. The firm cites the company announcement that it has signed a 20-year virtual PPA with Meta Platforms (META) to purchase the entire carbon-free output from its Clinton Nuclear facility starting in June 2027, and while discrete economics of the transaction were not disclosed, BMO’s initial base case assumption is $80/MWh, escalating at 3.0% annually, the analyst tells investors in a research note. BMO is positive on the company’s position as the largest producer of carbon-free generation, with low leverage and burgeoning clean product strategy that will enable its customers to accelerate their own decarbonization goals.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CEG:
- Buy Rating for Constellation Energy: Strategic Positioning and Financial Growth through Key Partnership with Meta Platforms
- Trump says Fed ‘must now’ lower rates after ADP payrolls report: Morning Buzz
- Apple downgraded, Snowflake upgraded: Wall Street’s top analyst calls
- Constellation Energy price target raised to $343 from $318 at BofA
- Talen Energy price target raised to $280 from $258 at BofA
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue