Mizuho raised the firm’s price target on Constellation Energy (CEG) to $307 from $235 and keeps a Neutral rating on the shares. The Calpine transaction adds 121TWhs to Constellation’s generation portfolio and adds 59 TWhs of retail contracts, positioning the proforma company as the largest generator and retail supplier of electricity in the U.S., the analyst tells investors in a research note. The firm expects accretion in 2026 of 20%, equating to $2 per share of earnings, following the closing of the transaction.
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