Citi upgraded Constellation Energy (CEG) to Buy from Neutral with a $232 price target The stock’s risk/reward profile looks more attractive after the selloff, with upside in potential co-location deals, potential Texas gas builds, and Calpine favorable stock issuance, the analyst tells investors in a research note. The firm thinks a $232 per share valuation is achievable without any behind-the-meter deals or unannounced growth. Any material change to artificial intelligence power market policies “would create material upside” for Constellation, adds Citi.
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