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Exelon initiated with an Outperform at Evercore ISI

Evercore ISI initiated coverage of Exelon (EXC) with an Outperform rating and $57 price target The firm views the company’s service jurisdictions as “very favorable from a regulatory perspective” with 92% of its rate-base expansion recoverable through forward looking rate mechanisms. The stability of Exelon’s earnings growth profile supports a relative multiple to the industry at or above its historical average, the analyst tells investors in a research note.

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