Constellation Energy price target raised to $201 from $151 at UBS

UBS raised the firm’s price target on Constellation Energy to $201 from $151 and keeps a Buy rating on the shares. Constellation last week reported Q4 and full year 2023 earnings ahead of consensus expectations and refreshed guidance. In addition to base EPS, Constellation can capture value from achieved margins above the 13-year average on power and natural gas, power prices achieved or hedged above the Production Tax Credit floor price, and portfolio optimization, the analyst tells investors in a research note.