BMO Capital analyst James Thalacker lowered the firm’s price target on Constellation Energy to $93 from $103 but keeps an Outperform rating on the shares. The company’s decision to secure its nuclear fuel supply and invest in longer-dated, complementary clean energy investments will reallocate a significant portion of its free cash flow over the next several years, but there is offsetting value to shareholders as Constellation Energy management demonstrates its commitment to de-risking key areas of the company’s business model as well as capital discipline with its inaugural capital allocation strategy, the analyst tells investors in a research note.
Published first on TheFly
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