Exelon price target lowered to $48 from $51 at RBC Capital

RBC Capital analyst Stephen D’Ambrisi lowered the firm’s price target on Exelon (EXC) to $48 from $51 and keeps a Sector Perform rating on the shares. The withdrawal of the PECO rate cases is a near-term negative for Exelon but ultimately is a timing issue, and while RBC is lowering its FY26/FY27 estimates to reflect the pushout of the PECO GRC, the firm is maintaining its out-year estimates as it assumes the company is able to mitigate the drag through future GRC filings, the analyst tells investors in a research note. While the stock continues to trade at a wide 3% discount to the peer group, RBC remains at neutral on the name given continued affordability constraints across the footprint.