Constellation Energy price target raised to $175 from $150 at Wells Fargo

Wells Fargo raised the firm’s price target on Constellation Energy to $175 from $150 and keeps an Overweight rating on the shares following the company’s EPS outlook. The firm believes Constellation Energy is poised to capitalize on the trend toward reliable carbon-free power. That said, Wells’ bullish thesis is increasingly dependent on the company’s capturing upside value vs. the base case.