Constellation Energy price target raised to $298 from $278 at BMO Capital
The Fly

Constellation Energy price target raised to $298 from $278 at BMO Capital

BMO Capital raised the firm’s price target on Constellation Energy (CEG) to $298 from $278 and keeps an Outperform rating on the shares as part of a broader research note previewing Q3 results in Utilities, Power and Renewable energy space. The next several weeks are seen as very important to near-term trading in the power sector, which could be volatile given both earnings/FERC-related events that coincide in early November, though investors should remain focused on the positive fundamental backdrop for power vs. just contract announcements as the burgeoning supply-demand shortfalls will take at least 4-5 years to address, driving higher earnings and free cash flow, the analyst tells investors in a research note.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App