Exelon price target lowered to $36 from $38 at BofA

BofA lowered the firm’s price target on Exelon to $36 from $38 and keeps a Neutral rating on the shares. Following the adverse Illinois regulatory decision, the firm expects a long-term EPS growth rate reduction with Q4 earnings. The firm forecasts about a 6% EPS growth rate in 2023-2027, supporting a 5-7% outlook, which is lower than the current 6-8% rate, the analyst tells investors.