Jefferies raised the firm’s price target on Constellation Energy (CEG) to $274 from $234 and keeps a Hold rating on the shares after the Calpine acquisition deal, which the firm calls “positive and value accretive.” Constellation prices in “a lot of data center value today,” and more than peers, but there is “a favorable risk/reward skew in a bullish data center contracting scenario,” the analyst tells investors.
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