JPMorgan initiated coverage of Constellation Energy (CEG) with an Overweight rating and $342 price target The firm initiated coverage of the independent power producers with a positive sector view, even when considering the year-to-date stock price strength. It sees structural tailwinds, including manufacturing onshoring, broader electrification trends as well data center development underpinning a “paradigm shift” in power demand. JPMorgan does not see competitive market supply growth matching this demand, enabling the companies to capture outsized margins for an extended period of time. The firm sees Vistra (VST) as having the most attractive risk/reward profile.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CEG:
- Constellation Energy call volume above normal and directionally bullish
- X-energy deal could drive over $1.5B of revenue for Curtiss-Wright, says Stifel
- Constellation Energy (NASDAQ:CEG) Falls after Citi Starts Analyst Coverage
- Big banks, UnitedHealth report quarterly earnings: Morning Buzz
- Etsy, Enphase downgraded: Wall Street’s top analyst calls