Citi Starts Constellation Energy (CEG) at Neutral

Citi analyst Ryan Levine initiates coverage on Constellation Energy (NASDAQ: CEG) with a Neutral rating and a price target of $284.00.

The analyst comments: "We initiate with a cautious view of CEG based on thesis of 1) co-location/behind-the-meter power deal execution may disappoint Street expectations, 2) Crane (Three Mile Island) will restart but on a delayed schedule, but 3) FCF outlook has derisked downside and uncapped upside tied to power prices and commercial activity. At current valuation, we prefer to remain cautious on CEG with a $284 price target."

For an analyst ratings summary and ratings history on Constellation Energy click here. For more ratings news on Constellation Energy click here.

Shares of Constellation Energy closed at $271.74 yesterday.

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