Citi downgraded Constellation Energy (CEG) to Neutral from Buy with a price target of $318, up from $232. The firm cites valuation for the downgrade Following Constellation’s stock rally and Meta (META) power agreement announcement. Based on Citi’s analysis, the Clinton deal adds $12 per share of value to Constellation shareholders. The firm downgraded the shares after reassessing its valuation assumptions.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CEG:
- Hold Rating on Constellation Energy Amid Market Dynamics and Meta Deal Implications
- Meta Embraces Nuclear Energy to Power its Massive AI Ambitions
- Early notable gainers among liquid option names on June 3rd
- Unusually active option classes on open June 3rd
- Morning Movers: Signet Jewelers and Dollar General surge following Q1 results