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Morgan Stanley Believes Exelon (EXC) Still Has Room to Grow

In a report released today, Stephen Byrd from Morgan Stanley maintained a Buy rating on Exelon (EXCResearch Report), with a price target of $50.00. The company’s shares closed last Tuesday at $43.64, close to its 52-week high of $44.73.

According to TipRanks.com, Byrd is a 5-star analyst with an average return of 10.0% and a 58.9% success rate. Byrd covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, American Electric Power, and Pinnacle West Capital.

Currently, the analyst consensus on Exelon is a Moderate Buy with an average price target of $49.87, representing a 13.8% upside. In a report issued on March 11, Mizuho Securities also upgraded the stock to Buy with a $46.00 price target.

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Based on Exelon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $9.63 billion and net profit of $391 million. In comparison, last year the company earned revenue of $8.11 billion and had a net profit of $359 million.

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Illinois-based Exelon Corp. is a utility company, which is engaged in power generation, competitive energy sales, transmission and delivery in the United States and Canada. The company operates through five business units including, ComEd, PECO, BGE, PHI, and Generation.

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