Barclays downgraded Exelon (EXC) to Equal Weight from Overweight with a price target of $49, down from $50. BMO Capital also downgraded the shares this morning. Barclays believes Maryland and Pennsylvania are becoming less constructive jurisdictions for Exelon. This should result in a wider discount on Exelon’s distribution portfolio on most comparatives, the analyst tells investors in a research note.
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Read More on EXC:
- Exelon: Regulatory Uncertainty and Limited Catalysts Support Hold Rating
- Exelon Backs Affordability, Withdraws PECO Rate Review Petitions
- Exelon affirms outlook after PECO withdrawal, Maryland bill
- Exelon drops 1% to $47.35 after PECO withdraws rate proceedings
- Exelon price target raised to $52 from $51 at BMO Capital