Constellation Energy price target raised to $230 from $190 at KeyBanc

KeyBanc raised the firm’s price target on Constellation Energy to $230 from $190 and keeps an Overweight rating on the shares. Constellation Energy is exploring various alternatives to meet the growing energy demand, including the addition of 1 GW of capacity through upgrades to its current fleet, restarting closed down plants, and a recent proposal to partner with companies to support the build-out of small modular reactors and other nascent technologies, while mitigating much of the risk through long-term PPAs, the analyst tells investors in a research note.