Constellation Energy price target raised to $300 from $250 at Wells Fargo

Wells Fargo raised the firm’s price target on Constellation Energy (CEG) to $300 from $250 and keeps an Overweight rating on the shares. The firm notes that a TMI-1 restart tied to a PPA with Microsoft (MSFT) indicates strong interest from Big Tech to secure clean power. Wells sees it as a value-additive transaction, but not without risk.