Exelon price target raised to $48 from $45 at Argus

Argus raised the firm’s price target on Exelon (EXC) to $48 from $45 and keeps a Buy rating on the shares. The firm has a positive view of the company’s transformation into a pure-play transmission utility through the spinoff of its competitive energy business, the analyst tells investors in a research note. Without generating operations, the utility should be able to control costs and benefit from wholesale energy prices, which are expected to remain moderate this year, Argus added.