BofA raised the firm’s price target on Constellation Energy (CEG) to $308 from $269 and keeps a Buy rating on the shares. On Friday, Constellation announced that it has entered into a definitive agreement with Calpine for a net purchase price of $26.6B, inclusive of debt. The equity purchase price of the transaction is around $16.4B, which Constellation Energy plans to fund through the issuance of 50 million shares and $4.5B in cash.
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