Constellation Energy price target raised to $230 from $116 at BofA

BofA analyst Paul Cole raised the firm’s price target on Constellation Energy to $230 from $116 and keeps a Neutral rating on the shares. The firm is updating its forward earnings estimates, adjusting its valuation methodology, and highlighting the sensitivity of earnings to changes in future realized power prices. The firm is updating its 2024 through 2026 EPS estimates to $7.65, $8.60 and $9.45, respectively, to reflected updated and more granular guidance from the company, the analyst noted.