Exelon price target raised to $52 from $51 at BMO Capital

BMO Capital raised the firm’s price target on Exelon (EXC) to $52 from $51 and keeps an Outperform rating on the shares. The Maryland Public Service Commission posted a much anticipated final order in Pepco’s initial multi-year rate plan/rate year three reconciliation as the final order approved a $13.4M increase to Pepco’s rates, the analyst tells investors in a research note. The company’s low-risk T&D – transmission and distribution – business profile, strong and visible fundamental growth outlook, and supportive regulatory environment position it well to drive multiple expansion, the firm added.