Neil Kalton, an analyst from Wells Fargo, reiterated the Buy rating on Constellation Energy Corporation (CEG – Research Report). The associated price target remains the same with $385.00.
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Neil Kalton has given his Buy rating due to a combination of factors that suggest a promising outlook for Constellation Energy Corporation. The company’s recent Q1 results showed adjusted operating EPS close to expectations, indicating stable financial performance. Management’s hint at a significant upcoming announcement has also generated positive market sentiment, driving the stock price up significantly.
Furthermore, the potential for a new front-of-meter data center agreement could enhance CEG’s clean power offerings, especially from its nuclear plants. The favorable conditions in the power demand sector, particularly tied to data centers, and the rising costs of new energy builds support attractive pricing for existing generation. Kalton’s positive thesis is further supported by the company’s projected EPS growth, with a strong CAGR anticipated over the coming years, making CEG a compelling investment opportunity.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CEG in relation to earlier this year.