Constellation Energy price target lowered to $81 from $88 at BofA

BofA lowered the firm’s price target on Constellation Energy (CEG) to $81 from $88 and keeps a Neutral rating on the shares. Recent relative underperformance means "there is now a better risk/reward," but the firm still sees limited positive potential total return based on its revised target and views IPP peers Vistra (VST) and NRG Energy (NRG) as "relatively more attractive at more robust FCF yields" given they trade at steeper discounts.