RBC Capital analyst Shelby Tucker downgraded Constellation Energy to Sector Perform from Outperform with a price target of $91, up from $88. The stock’s investment story is still "intriguing", but there may be a pause in the near-term outlook as the company’s management further defines its growth strategy, the analyst tells investors in a research note. Tucker adds that his updated valuation model does factor in the potential for clean hydrogen production, though he does not expect a material impact to cash flows until 2027.
Published first on TheFly
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